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(U1) Needle Points North

AUSSIE 10-YEAR TECHS
  • RES 3: 99.165 - High Nov 20
  • RES 2: 99.035 - High Dec 23 and key resistance
  • RES 1: 98.880 - High Jul 20
  • PRICE: 98.820 @ 15:48 BST Jul 27
  • SUP 1: 98.495 - Low Jul 6
  • SUP 2: 98.320 - Low Jun 17
  • SUP 3: 98.045 - Low Feb 26

Aussie 10y futures appear set to continue their medium-term trend higher. The contract has topped 98.730, the Jul 8 high and recent gains have improved the outlook going forward, with the probability of progress through the 2021 losses increasing over the past few weeks. The break of 98.730 confirms a resumption of the uptrend, which strengthens further the upside case. A key support has been defined at 98.320, Jun 17 low.

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