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(U3) Breaches Support

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: 95.300 @ 17:37 BST Aug 31
  • SUP 1: 95.660- Low Aug 17
  • SUP 2: 95.670 - Low Jun 17 2022
  • SUP 3: 94.900 - 1.0% 10-dma envelope

Aussie 10 yr futures are trading above recent lows. Nonetheless, the break of support at 95.685, the Jul 10 low reinforces a bearish theme. This exposes the major support at 95.670, the Jun 17 2022 low. A break of this level would confirm a resumption of the medium-term downtrend and accelerate losses. Initial key resistance has been defined at 96.170, the Jun 29 high. A break would expose 96.440, the Jun 2 high.

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

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