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(U3) Consolidating

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: 95.838 @ 16:01 BST Sep 11
  • 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 consolidating at the beginning of the week, holding approximately halfway between the August high and August low. These parameters dictate price action for now. Any break of support at 95.685, the Jul 10 low, would reinforce a bearish theme and expose the major support at 95.670, the Jun 17 2022 low. Weakness through here would confirm a resumption of the medium-term downtrend and accelerate losses. Initial key resistance has been defined at 96.050, the Sep 1 high. A break would expose 96.440, the Jun 2 high.

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