Free Trial

(M9) Countdown to ATH Highs....>

AUSSIE 10-YEAR TECHS
AUSSIE 10-YEAR TECHS: (M9) Countdown to ATH Highs
*RES 3: 98.2000 - Aug2 2016 High
*RES 2: 98.1800 - Sep1 2016 High
*RES 1: 98.0900 - Oct3 2016 High
*PRICE: 98.1350 @ 15:46 GMT, Mar 21
*SUP 1: 97.8682 - 50-dma
*SUP 2: 97.1900 - Nov 9 low
*SUP 3: 97.1450 - Jun7/8 low
Aussie 10yr futures railed higher once more, getting a decent boost from the
rally in US Treasuries, making 98.1400 now the high watermark. A firm break and
close above here will open September 2016 highs of 98.18 as well as the all-time
highs printed at 98.20. However, the likelihood of a small pause to this rally
is rising. The Tuesday bump higher knocked the RSI into 'overbought' territory.
To the downside, recent price action has solidified the 50-dma as firm support
at 97.8682. A break below here would open the 97.6921 mark, the 38.2% Fib
retracement for the 97.1900-98.0025 move.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.