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(M2) Bearish Outlook Strengthens

AUSSIE 10-YEAR TECHS
  • RES 3: 98.755 - High Sep 23
  • RES 2: 98.430/460 - High Dec 21 / 06
  • RES 1: 98.130 High Feb 3
  • PRICE: 97.395 @ 16:59 GMT Mar 18
  • SUP 1: 97.345 - Low Mar 18
  • SUP 2: 97.253 - 3.0% Lower Bollinger Band
  • SUP 3: 97.168 - 0.5% 10-dma envelope

Aussie 10y futures edged to fresh cycle lows Friday, reinforcing the downside bias present in Aussie fixed income markets. The move lower exposes next support posted at the 3.0% Lower Bollinger Band at 97.253, but support is expected stronger into the 0.5% 10-dma envelope - which crosses at 97.168 currently. Outlook remains resolutely bearish through the futures roll.

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

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