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(M9) Uptrendline Resistance....>

AUSSIE 10-YEAR TECHS
AUSSIE 10-YEAR TECHS: (M9) Uptrendline Resistance Under Threat
*RES 3: 98.8933 - First Pivot Resistance (97.1900 - 98.4750)
*RES 2: 98.5008 - Uptrend from Sep'18
*RES 1: 98.4750 - All Time Highs (May17)
*PRICE: 98.4600 @ 16:26 BST, May 23
*SUP 1: 98.1898 - 50-dma
*SUP 2: 97.1900 - Nov 9 low
*SUP 3: 97.1450 - Jun7/8 low
Uptrendline resistance drawn from the September 2018 highs came under threat
Thursday as bulls managed to eke out another all time high in Aussie 10yr
futures at the 98.4750 level. Those who bought into the weakness in the RSI
earlier in the week have been well rewarded for a second session, but the
measure is now at its highest since late March and well into overbought
conditions. Any further move higher would initially target the uptrend ahead of
first pivot resistance at 98.8933. 98.1898 50-dma support is the first level and
a break below here will return focus lower.

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