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(M4) Fades on CPI Risks

AUSSIE 3-YEAR TECHS
  • RES 3: 96.540 - High Feb 2 and a Key resistance
  • RES 2: 96.506 - High Mar 11
  • RES 1: 96.240 - High Apr 19
  • PRICE: 95.920 @ 15:41 BST May 30
  • SUP 1: 95.730 - 76.4% retracement of the Jan - Feb rally
  • SUP 2: 95.480 - Low Oct 31
  • SUP 3: 95.330 - 2.618 proj of the Feb 2 - Feb 14 - Mar 11 price swing

Prices broke below the 96.000 handle ahead of the Wednesday close, putting bonds through a key support. The break below here confirms the Aussie 3yr futures trend condition as bearish despite the recent bounce. The recent leg lower suggests potential for a continuation near-term towards 95.730, a Fibonacci retracement point. Key short-term resistance has been defined at 96.240, the Apr 19 high. A break of this level would reinstate a bullish theme and refocus attention on gains towards 96.540, the Feb 2 high (cont)

Fixed Income Technical AnalysisHomepagemarkets-real-timeBond Market NewsBulletMarketsFixed Income Bullets
Fixed Income Technical AnalysisHomepagemarkets-real-timeBond Market NewsBulletMarketsFixed Income Bullets

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