Free Trial

(U4) Recent Gains Firm Further

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: 95.835 @ 16:07 BST Jun 18
  • 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

The corrective rally in Aussie 10y futures persisted into last week’s close, with new highs printed at 95.923. Any resumption of weakness would signal scope for a move towards 95.235, a Fibonacci retracement point on the continuation chart. Key short-term resistance has been defined at 96.110 on the continuation chart. A firm break would highlight a possible reversal and signal scope for further gains.

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.