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(M1) New Multi-Month Highs

AUSSIE 10-YEAR TECHS
  • RES 3: 99.165 - High Nov 20
  • RES 2: 99.035 - High Dec 23 and key resistance
  • RES 1: 98.410 - High Mar 7
  • PRICE: 98.355 @ 17:33 BST May 7
  • SUP 1: 98.070 - Low Mar 19
  • SUP 2: 98.020 - Low Feb 26 and the bear trigger
  • 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, however the relatively flat recovery does not highlight any key bullish breakout signals just yet. The 50-dma has been probed. This average represents an initial key support area and a strong break would strengthen a bearish case. Initial key support is 98.070, Mar 19 low.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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