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(U1) Testing Resistance

  • RES 3: 99.165 - High Nov 20
  • RES 2: 99.035 - High Dec 23 and key resistance
  • RES 1: 98.730/810 - High Jul 8 / 76.4% of the Oct '20 - Feb downleg
  • PRICE: 98.725 @ 20:33 BST Jul 15
  • SUP 1: 98.495 - Low Jul 6
  • SUP 2: 98.320 - Low Jun 17
  • SUP 3: 98.045 - Low Feb 26

Aussie 10y futures continue their medium-term trend higher, extending gains and have tested 98.730, the Jul 8 high. Recent gains have improved the outlook going forward, with the probability of progress through the 2021 losses increasing over the past few weeks. A break of 98.730 would confirm a resumption of the uptrend and open 98.814, a Fibonacci retracement next. A key support has been defined at 98.320, Jun 17 low.

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