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(U2) Outlook More Stable

AUSSIE 10-YEAR TECHS
  • RES 3: 97.455 - High Mar 18
  • RES 2: 97.185/275 - High Apr 5 / 200-dma
  • RES 1: 97.040 - High Aug 03
  • PRICE: 96.451 @ 15:55 BST Sep 9
  • SUP 1: 96.245 - Low Sep 1
  • SUP 2: 96.159 - 2.0% Lower Bollinger Band
  • SUP 3: 95.663 - Low Jun 16

Aussie 10yr futures have recovered well after slipping below key support at 96.355, in recent weakens. Prices were more stable into the Friday close, however the bull cycle posted since mid-June has weakened. The bull trigger remains 97.040, the Aug 3 high. On the downside, recent weakness suggests scope for a deeper retracement towards the mid-Jun low of 95.663.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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