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(U9) Consolidates *RES 3:......>

AUSSIE 10-YEAR TECHS
AUSSIE 10-YEAR TECHS: (U9) Consolidates
*RES 3: 99.2433 - 1st Pivot Resistance (97.1900 - 98.7350)
*RES 2: 98.7862 - 3.0% Upper Bollinger Band
*RES 1: 98.7350 - All Time Highs
*PRICE: 98.6850 @ 12:45 GMT, Jul 23
*SUP 1: 98.5763 - 50-dma
*SUP 2: 98.5250 - Weekly low
*SUP 3: 97.9950 - Apr18 Low
After starting the week well, Aussie 10y futures consolidated somewhat Tuesday,
retreating alongside global bond markets. Bulls continue to eye first resistance
at 98.72 after staging a decent bounce off the 50-dma early last week, shifting
the medium-term outlook back to positive. A fall through, and close below, the
50-dma would weaken the outlook materially and raises the risk of a more
substantial leg lower. The Apr18 low is next up at 97.9950.

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