Free Trial

(U3) Trend Needle Points South

  • 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: 95.825 @ 15:46 BST Jul 11
  • SUP 1: 95.685 - Low Jul 7
  • SUP 2: 95.670 - Low Jun 17 2022
  • SUP 3: 95.094 - 1.0% 10-dma envelope

Bearish conditions in Aussie 10y futures firmed with further losses early Friday as prices hit a new pullback low. This wholly erases the recent bounce and reinforces current bearish conditions. 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. Initial firm resistance is at 96.440, the Jun 2 high.

MNI London Bureau | +44 203-865-3809 |

To read the full story



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.