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(M3) Trend Needle Points South

  • RES 3: 97.040 - High Aug 03 2022 (cont)
  • RES 2: 96.780/975 - High May 5 / High MAr 14
  • RES 1: 96.440 - High Jun 2
  • PRICE: 96.000 @ 16:19 BST Jun 22
  • SUP 1: 95.875 - Low Dec 29 2022
  • SUP 2: 95.670 - Low Jun 17 2022
  • SUP 3: 95.094 - 1.0% 10-dma envelope

Bearish conditions in Aussie 10y futures remain intact and short-term gains are considered corrective. Recent trend lows reinforce current conditions and note that moving average studies remain in a bear-mode condition, highlighting the trend direction. The recent move lower opens the Dec 29 low of 95.875 for support. A break would strengthen bearish conditions. Initial firm resistance is at 96.440, the Jun 2 high.

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