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(U0) Snaps Lower

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: 99.0050 @ 17:07 BST, Aug 28
  • SUP 1: 98.9350 - Low Aug 28
  • SUP 2: 98.8100 - Low Jun 8
  • SUP 3: 98.7210 - 61.8% Mar 10 - 19 Downleg

10yr futures edged to new multi-month lows following the appearance of Fed's Powell at Jackson Hole. This extended the range base lower, bringing the mid-June lows into range. The decent intraday reversal however keeps the over-arching trend unchanged, with sideways activity still expected to continue to dominate. A break of the 98.8100, the range base or 99.1850 is required to signal a clearer directional move.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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