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(M1) Rolls Off Monday High

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 / May 7
  • PRICE: 98.275 @ 16:26 BST May 14
  • 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

The shallow recovery posted since late February continues, but progress is slow - evident in the pullback from the May 7 high at 98.410. Directional triggers are more or less unchanged, with markets needing to top 98.410 before making any further progress through the 2021 losses. 98.22, the May low, marks first support, and a slip through opens 98.07 and the bear trigger at 98.02.

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

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