The primary trend direction in Aussie 3yr futures remains down and current short-term gains are still considered corrective. A primary bearish price sequence of lower lows and lower highs remains intact and moving average studies point south. A resumption of weakness would open 96.612 - the 3.0% lower Bollinger Band as well as 96.570, the lower band of a moving average envelope. Key short-term resistance is at 97.530, the Mar 31 high.

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

Fixed Income Technical Analysis Homepage Bond Market News markets-real-time Bullet Markets Fixed Income News

Edward Hardy

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

Fixed Income Technical Analysis Homepage Bond Market News markets-real-time Bullet Markets Fixed Income News

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(M2) Corrective Cycle Still In Play