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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: 96.990 @ 16:38 BST Apr 07
  • SUP 1: 96.945 - Low Apr 06
  • SUP 2: 96.899 - 2.0% Lower Bollinger Band
  • SUP 3: 96.636 - 0.5% 10-dma envelope

Aussie 10y futures edged to fresh cycle lows again this week, reinforcing the downside bias present in Aussie fixed income markets. The move lower exposes next support posted at the 2.0% Lower Bollinger Band at 96.899, but support is expected stronger into the 0.5% 10-dma envelope - which crosses at 96.636 currently. Outlook remains resolutely bearish through the futures roll.

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