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Free Access###POV Risking Correction......>
AUSSIE 10-YEAR TECHS: ###POV Risking Correction Back to 2017 High
- Despite focus having returned to the LT Bull channel base (97.0069) off 2008
lows LT traders failed to trouble the channel base with a close below 96.9650
Dec 2015 lows needed to confirm a break, initially targeting 96.6000. The
recovery now sees focus on layers of resistance 97.2659-3274 where the 200-WMA
(97.2659), 100-DMA (97.2800), 55-WMA (97.3156) & 200-DMA (97.3274) are situated.
- LT Bulls are now focused on a correction targeting 2017 highs (97.6750).
Weekly studies correcting from O/S add support to the bullish case. LT bulls now
look for a close above the 200-DMA to add further support. A close above 2017
highs would then see LT focus shift to 98.2000 2016 highs.
- The 96.9650 Dec 2015 low remains key support. LT traders look for a close
below this level to confirm a break of the LT bull channel base off 2008 lows
and shift immediate focus to 96.6000 with overall focus then on the 96.1350
alternating weekly support/resistance from 2014.
- Click for charts: https://tinyurl.com/y8gn4zyh
https://tinyurl.com/ycng7fug
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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.