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(U2) Tops Resistance Before Fading

AUSSIE 10-YEAR TECHS
  • RES 3: 97.455 - High Mar 18
  • RES 2: 97.185/361 - High Apr 5 / 200-dma
  • RES 1: 97.040 - High Aug 03
  • PRICE: 96.885 @ 20:41 BST Aug 04
  • SUP 1: 96.355 - Low Jul 22
  • SUP 2: 96.087 - 3.0% Lower Bollinger Band
  • SUP 3: 95.663 - Low Jun 16

Aussie 10yr futures remains above a key support at 96.355, the Jul 22 low. The recovery off the mid-June lows remains intact to target the 200-dma on the continuation contract at 97.361, which marks the next upside hurdle. On the downside, a failure to remain above support at 96.355 would instead signal a reversal and suggest scope for a deeper retracement towards the mid-Jun low of 95.663.

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  • RES 3: 97.455 - High Mar 18
  • RES 2: 97.185/361 - High Apr 5 / 200-dma
  • RES 1: 97.040 - High Aug 03
  • PRICE: 96.885 @ 20:41 BST Aug 04
  • SUP 1: 96.355 - Low Jul 22
  • SUP 2: 96.087 - 3.0% Lower Bollinger Band
  • SUP 3: 95.663 - Low Jun 16

Aussie 10yr futures remains above a key support at 96.355, the Jul 22 low. The recovery off the mid-June lows remains intact to target the 200-dma on the continuation contract at 97.361, which marks the next upside hurdle. On the downside, a failure to remain above support at 96.355 would instead signal a reversal and suggest scope for a deeper retracement towards the mid-Jun low of 95.663.