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(U1) Trend Conditions Remain Bullish

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: 98.715 @ 15:23 BST Sep 07
  • SUP 1: 98.710 - Low Sep 07 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 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 are in a bull mode. The focus is on 99.165, Nov 20, 2020 high. Initial firm support has been defined at 98.710, Sep 07 low.

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