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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: 96.785 @ 16:06 BST Jul 27
  • 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 rallied across the Thursday and Friday sessions, turning the outlook more stable after the modest downleg across the first half of July. Moving average studies indicate a stabilisation of the outlook, but the 100-dma on the continuation contract at 96.70 poses the next upside hurdle. Above there, key short-term resistance remains at 96.945, the Apr 26 high.

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