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(U0) Bounces Off Lows

AUSSIE 10-YEAR TECHS
  • RES 3: 99.3600 - High Apr 02
  • RES 2: 99.2250 - High Apr 17
  • RES 1: 99.1850 - High Aug 5
  • PRICE: 99.1050 @ 16:51 BST, Aug 19
  • SUP 1: 99.0200 - Low Jul 2 and 3
  • SUP 2: 98.9750 - 50.0% retracement of the Jun 8 - Jul 13 rally
  • SUP 3: 98.9361 - 61.8% retracement of the Jun 8 - Jul 13 rally

Aussie 10yr futures remain at the lower end of the recent range, well below the 99.1850 print shortly following the RBA decision, but has bounced off recent lows of 99.0250. The outlook remains neutral for now, with price patterns suggesting a longer period of consolidation. 99.2250, Apr 17 high, remains the initial upside target. On the downside, initial key key support has for now been defined at 99.0200, Jul 2 / 3 low. A break would expose a deeper decline towards 98.9750 instead. a Fibonacci retracement.

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