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(U4) New Multimonth Highs

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: 96.050 @ 17:27 BST Aug 5
  • SUP 1: 96.525 - 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 building on its latest gains. Markets have topped the 96.000 handle, the break above which is the first since early April on the continuation contract. Sights are on 96.207, a Fibonacci projection. The bear trigger has been defined at 95.525, the Jul 2 low. For now, any short-term pullback would be considered corrective and this would allow an oversold condition to unwind.

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