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(M2) Bearish Outlook Strengthens

AUSSIE 10-YEAR TECHS
  • RES 3: 97.870 - High Mar 3
  • RES 2: 97.455 - High MAr 18
  • RES 1: 97.185 - High Apr 5
  • PRICE: 96.940 @ 18:23 BST Apr 08
  • SUP 1: 96.877 - 2.0% Lower Bollinger Band
  • SUP 2: 96.795 - Low Jul 3 2015 (cont)
  • SUP 3: 96.580 - 0.5% 10-dma envelope

Aussie 10y futures edged to fresh cycle lows again last 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 96.877, ahead of a stronger area of support at the 0.5% 10-dma envelope - which crosses at 96.580 currently. Initial resistance is at a recent high of 97.185 on Apr 5.

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