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Free Access(M18) Aggressive Bounce........>
AUSSIE 10-YEAR TECHS: (M18) Aggressive Bounce Ahead of 55-DMA
*RES 4: 97.3850 - 2018 High Jan 8
*RES 3: 97.3242 - Bollinger band top
*RES 2: 97.3202 - 55-WMA
*RES 1: 97.3150 - High Mar 20
*PRICE: 97.2700 @ 2030GMT
*SUP 1: 97.2550 - Alternating hourly support/resistance
*SUP 2: 97.2000 - 55-DMA
*SUP 3: 97.1750 - Hourly resistance Feb 23 now support
*SUP 4: 97.1518 - Bollinger band base
*COMMENTARY: Topside hesitation has taken its toll with the sell-off seeing a
dip back towards 97.1750-2000 before being aggressively reversed ahead of the
55-DMA. Bulls continue to look for a close above the 55-WMA to initially target
97.3850 2018 highs. Bears now look for a close below 97.1750 to confirm a break
of the 55-DMA, ending bullish hopes and seeing focus back on 97.0450-0800 where
2018 lows are found.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.