(U0) Softens Further *RES 3:....>

AUSSIE 3-YEAR TECHS: (U0) Softens Further

*RES 3: 100.00 - Handle Psychological Resistance

*RES 3: 99.840 - Range projection on a break of 99.780

*RES 1: 99.780 - High Apr 01 and bull trigger

*PRICE: 99.695 @ 16:12 BST Jun 03

*SUP 1: 99.690 - Low Mar 27

*SUP 2: 99.645 - Low Mar 20

*SUP 3: 99.580 - 100-dma

The short-end of the Aussie bond market pulled back further Wednesday. The

contract continues to trade within a range that has been in place since peaking

at 99.780 on Apr 1. A break of this resistance is required to confirm a

resumption of the broader uptrend and open 99.840, the range projection and the

100.00 psychological level further out. The base of the range expanded lower at

the futures roll, now sitting at 99.695 and marks the key near-term support.