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(U1) Monitoring Key S/T Support

AUSSIE 10-YEAR TECHS
  • RES 3: 99.290 - High Oct 16, 2020 and key resistance
  • RES 2: 99.165 - High Nov 20, 2020
  • RES 1: 98.996 - 76.4% retracement of the Oct '20 - Feb sell-off
  • PRICE: 98.830 @ 20:02 BST Aug 27
  • SUP 1: 98.760 - Low Aug 12 and key support
  • SUP 2: 98.495 - Low Jul 6
  • SUP 3: 98.320 - Low Jun 17

Aussie 10y futures remain bullish although the contract remains in a short-term bearish corrective cycle. Price recently cleared 98.910, Aug 5 high to confirm a resumption of the uptrend. This maintains the bullish price structure of higher highs and higher lows and note that moving average conditions remain bullish. The focus is on 99.165, Nov 20, 2020 high. Initial firm support has been defined at 98.760, Aug 12 low.

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