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(U3) Bounce Looks Corrective Below Resistance

AUSSIE 10-YEAR TECHS
  • RES 3: 97.040 - High Aug 03 2022 (cont)
  • RES 2: 96.780/975 - High May 5 / High MAr 14
  • RES 1: 96.440 - High Jun 2
  • PRICE: 96.085 @ 15:33 BST Jul 18
  • SUP 1: 95.685 - Low Jul 7
  • SUP 2: 95.670 - Low Jun 17 2022
  • SUP 3: 95.094 - 1.0% 10-dma envelope

Defying previously bearish conditions, Aussie 10y futures have rallied further this week, following US bond markets higher post-CPI. The bounce this week has proved constructive, but is yet to run into any meaningful resistance - first crossing at 96.440. This level will need to be challenged before any turn in the near-term outlook. Note that moving average studies remain in bear mode, highlighting the trend direction. The recent move lower opens the Dec 29 low of 95.670 for support. A break would accelerate losses.

Fixed Income Technical AnalysisHomepageBond Market Newsmarkets-real-timeBulletMarketsFixed Income Bullets
Fixed Income Technical AnalysisHomepageBond Market Newsmarkets-real-timeBulletMarketsFixed Income Bullets

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