Free Trial

(U3) Medium-Term Trend Is Bearish

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: 95.896 @ 19:17 BST Sep 14
  • SUP 1: 95.660- Low Aug 17
  • SUP 2: 95.670 - Low Jun 17 2022
  • SUP 3: 94.926 - 1.0% 10-dma envelope

Aussie 10 yr futures are consolidating. The broader trend direction is down and the key support and bear trigger is 95.660, Aug 17 low. A break of this level would reinforce a bearish theme and expose major support at 95.670, the Jun 17 2022 low. Weakness through here would confirm a resumption of the medium-term downtrend. Initial key resistance has been defined at 96.160, the Jul 20 high. A break would expose 96.440, the Jun 2 high.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.