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(M1) Neutral Outlook

AUSSIE 10-YEAR TECHS
  • RES 3: 99.165 - High Nov 20
  • RES 2: 99.035 - High Dec 23 and key resistance
  • RES 1: 98.325 - 50-DMA (cont)
  • PRICE: 98.300 @ 17:17 BST Apr 21
  • SUP 1: 98.070 - Low Mar 19
  • SUP 2: 98.020/115 - Low Feb 26 / 2.0% Lower Bollinger Band
  • SUP 3: 97.485 - Low March 2020

Aussie 10y bond futures remain fragile given recent volatility, but the outlook has stabilised. Since the low print in late February, prices have recovered, but there are few technical signs of any bullish breakout just yet. The 50-dma at 98.325 (cont) marks a firm resistance, and will be tested in the coming sessions should the gradual progress higher be maintained.

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