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(U9) Needs to catch-up with....>

AUSSIE 10-YEAR TECHS
AUSSIE 10-YEAR TECHS: (U9) Needs to catch-up with short end
*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: 98.7250 @ 15:47 GMT, Jul 24
*SUP 1: 98.5840 - 50-dma
*SUP 2: 98.5250 - July low
*SUP 3: 97.9950 - Apr18 Low
Despite record levels being hit in the short-end, the Aussie bond rally was
unable to lift 10yr futures above the 98.7350 mark, which holds as first bullish
target. This leaves bulls continuing to eye all time highs and a break higher to
98.7862 as first resistance, but the medium-term outlook remains 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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