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(U4) Bullish Theme

AUSSIE 10-YEAR TECHS
  • RES 3: 96.975 - High Mar 14
  • RES 2: 96.501 - 76.4% of the Mar 14 - Nov 1 ‘23 bear leg
  • RES 1: 96.207 - 61.8% of the Mar 14 - Nov 1 ‘23 bear leg
  • PRICE: 96.115 @ 18:51 BST Aug 26
  • SUP 1: 95.525 - Low Jul 2
  • SUP 2: 95.430 - Low Apr 26
  • SUP 3: 95.275 - Low Nov 14

Aussie 10yr futures maintain a bullish short-term tone and the contract is trading closer to its recent highs. The 96.000 handle has been cleared and this reinforces bullish conditions. Sights are on 96.207, a Fibonacci projection. The bear trigger has been defined at 95.525, the Jul 2 low. The recent sharp pullback between Aug 6 - 8, appears to have been a correction and this allowed an overbought condition to unwind.

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