August 05, 2022 17:58 GMT
(U2) Uptrend Remains Intact
AUSSIE 10-YEAR TECHS
- RES 3: 97.455 - High Mar 18
- RES 2: 97.185/355 - High Apr 5 / 200-dma
- RES 1: 97.040 - High Aug 03
- PRICE: 96.760 @ 17:59 BST Aug 05
- SUP 1: 96.355 - Low Jul 22
- SUP 2: 96.095 - 3.0% Lower Bollinger Band
- SUP 3: 95.663 - Low Jun 16
Aussie 10yr futures remain above 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 97.355, 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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