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(M2) Correction Extends


Late Session Rebound


(M2) Corrective Cycle Remains In Play


(M2) Gains Still Considered Corrective

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(U1) Back to Flat

  • RES 3: 99.165 - High Nov 20
  • RES 2: 99.035 - High Dec 23 and key resistance
  • RES 1: 98.430 - High May 27
  • PRICE: 98.270 @ 14:16 BST May 31
  • SUP 1: 98.261 - 50-dma
  • SUP 2: 98.250 - 50% Retracmeent of the May Rally
  • SUP 3: 97.485 - Low March 2020

Aussie 10y futures continue their medium-term trend higher, extending gains to top out at 98.345 May high. This improves the outlook going forward, with the probability of progress through the 2021 losses increasing over the past few weeks. 98.220, May 14 low (cont) is support. A break would open 98.070, Mar 19 low and the 98.020 bear trigger, Mar 26 low.

MNI London Bureau | +44 203-865-3809 |
MNI London Bureau | +44 203-865-3809 |

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