July 15, 2024 19:47 GMT
(U4) Holding On To Its Latest Gains
AUSSIE 10-YEAR TECHS
- RES 3: 96.207 - 61.8% of the Mar 14 - Nov 1 ‘23 bear leg
- RES 2: 96.110 - High Dec 28 and the bull trigger
- RES 1: 95.923 - High Jun 14
- PRICE: 95.695 @ 20:27 BST Jul 15
- SUP 1: 95.235 - 76.4% retracement of the Nov - Dec ‘23 rally
- SUP 2: 94.965 - Low Oct 31 ‘23
- SUP 3: 94.866 - 2.618 proj of the Dec 28 - Jan 19 - Feb 2 price swing
Aussie 10yr futures maintain a bullish short-term tone and the contract is holding on to its latest gains. The move higher last week signals scope for a climb towards 95.923, the next resistance on the continuation contract. On the downside, the bear trigger has been defined at 95.525, the Jul 2 low. Clearance of it would signal scope for a move towards 95.235, a Fibonacci retracement point.
145 words