Free Trial

(U18) Losing Momentum *RES.....>

AUSSIE 10-YEAR TECHS
AUSSIE 10-YEAR TECHS: (U18) Losing Momentum
*RES 4: 97.6750 - High, June 15, 17 (Continuation chart
*RES 3: 97.6200 - High April 8, 17 (Continuation chart)
*RES 2: 97.5950 - 50% 98.2000-96.9875
*RES 1: 97.5025 - 2-month trendline resistance
*PRICE: 97.4550 @ 1714 GMT
*SUP 1: 97.3900 - Bottom of current range (beg. Aug 10), 50-DMA
*SUP 2: 97.3650 - Former range top, now support
*SUP 3: 97.3300 - 2.5 month uptrend
*SUP 4: 97.2400 - Low Aug 2
The short-term trend is now turning bearish, with the daily price action on the
candles suggesting a potential shooting star reversal following a false break
higher on September 3 (intraday high of 97.5250, close at 97.480). With momentum
fading, support at 97.3900 - which represents the bottom of current range
(entered on Aug 10) as well as the 50-DMA - could soon be tested.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.