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(M9) RBA Squashes Rate Cut......>

AUSSIE 3-YEAR TECHS
AUSSIE 3-YEAR TECHS: (M9) RBA Squashes Rate Cut Hopes
*RES 3: 99.187 - 1st Pivot Resistance 98.520-98.820
*RES 2: 99.067 - 123.6% Fib Projection (97.775-98.820)
*RES 1: 98.820 - All Time High
*PRICE: 98.725 @ 14:08 BST May 7
*SUP 1: 98.573 - 23.6% Fib Retracement (97.775 - 98.820)
*SUP 2: 98.583 - 50-dma
*SUP 3: 98.415 - 100-dma
Following a few sessions of outperformance, Aussie bond futures crumbled across
the curve Tuesday as the RBA squashed rate cut forecasts that had split analysts
evenly. This drags 3yr futures further from all time highs printed up at 98.82
just ahead of the decision. The bullish picture remains in tact, with a
retracement below the 98.573 mark needed to weaken the current momentum. Any
climb north of all time highs shifts targets to the 1st pivot resistance at
99.187 and the 123.6% Fib projection at 99.067.

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