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(U9) One way all day *RES 3:...>

AUSSIE 10-YEAR TECHS
AUSSIE 10-YEAR TECHS: (U9) One way all day
*RES 3: 99.3700 - 1st Pivot Resistance (97.1900 - 98.8700)
*RES 2: 98.9545 - 3.0% Upper Bollinger Band
*RES 1: 98.8700 - All Time Highs
*PRICE: 98.8700 @ 14:51 GMT, Aug 1
*SUP 1: 98.6358 - 50-dma
*SUP 2: 98.5250 - July low
*SUP 3: 97.9950 - Apr18 Low
After a relatively quiet Asia-Pac and European session, US hours saw a sharp
rally in global bonds, boosting Aussie 10-year futures to 98.87, fresh all time
highs. The move will have inspired further confidence in bulls as some modest
weakness was seen earlier in the session on a better CPI release. This keeps
momentum pointing higher, with volatility bands the nearest resistance at
98.9545. Should the sell-on-rallies theme re-emerge, bears would like to see a
drop through the (previously strong support) at the 50-dma before gathering any
momentum to press back to July lows of 98.5250.

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