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(M3) Fades Further Thursday, Hits New Pullback Low

AUSSIE 10-YEAR TECHS
  • RES 3: 97.185 - High Apr 5 2022 (cont)
  • RES 2: 97.040 - High Aug 03 2022 (cont)
  • RES 1: 96.900/905 - High Mar 24 / Mar 20
  • PRICE: 96.545 @ 15:58 BST May 18
  • SUP 1: 96.435/96.372 - Low May 18 / Low Mar 13
  • SUP 2: 96.045 - Low Mar 3
  • SUP 3: 95.875 - Low Dec 29

Aussie 10y futures underwent further selling pressure Thursday, putting prices at new pullback lows of 96.435. This marks a clean break of the 20-day EMA as well as support is 96.445, the Apr 20 low. This opens the Mar 13 low of 96.372. Key resistance remains intact at the recent high of 96.905 on Mar 21. A break of this level would confirm a resumption of the uptrend and open the Aug 03 2022 high of 97.040 (cont).

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