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(U0) Firmer Off The Range Base

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: 99.1250 @ 18:43 BST, Aug 20
  • SUP 1: 99.0250/0200 - Aug 14 low / 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 continue to trade within the range that has developed since mid June. The recent recovery off the low end of the range at 99.0250 suggests scope for short-term gains towards 99.1850, Aug 5 high and the highest level within the range. From a trend perspective, sideways activity is expected to continue dominating. A break of either 99.0200, the range base or 99.1850 is required to signal a clearer directional move.

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