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(U2) More Stable But Still Fragile Longer Term

AUSSIE 10-YEAR TECHS
  • RES 3: 97.455 - High Mar 18
  • RES 2: 97.185 - High Apr 5
  • RES 1: 96.945 - High Apr 26 and key short-term resistance
  • PRICE: 96.440 @ 15:23 BST Jul 20
  • SUP 1: 95.663 - Low Jun 16
  • SUP 2: 95.470 - 3.0% Lower Bollinger Band
  • SUP 3: 95.651 - 0.5% 10-dma envelope

Aussie 10yr futures edged off the week’s best levels into the Friday close and extended the weakness through the European close. This shifts first support lower, with markets eyeing vol band support at both 95.470 and 95.651. Moving average studies continue to highlight a bearish backdrop and weakness across the first half of June printed a bearish price sequence of lower lows and lower highs - the definition of a downtrend. Key short-term resistance remains at 96.945, the Apr 26 high.

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  • RES 3: 97.455 - High Mar 18
  • RES 2: 97.185 - High Apr 5
  • RES 1: 96.945 - High Apr 26 and key short-term resistance
  • PRICE: 96.440 @ 15:23 BST Jul 20
  • SUP 1: 95.663 - Low Jun 16
  • SUP 2: 95.470 - 3.0% Lower Bollinger Band
  • SUP 3: 95.651 - 0.5% 10-dma envelope

Aussie 10yr futures edged off the week’s best levels into the Friday close and extended the weakness through the European close. This shifts first support lower, with markets eyeing vol band support at both 95.470 and 95.651. Moving average studies continue to highlight a bearish backdrop and weakness across the first half of June printed a bearish price sequence of lower lows and lower highs - the definition of a downtrend. Key short-term resistance remains at 96.945, the Apr 26 high.