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(U9) Range contracts *RES 3:...>

AUSSIE 10-YEAR TECHS
AUSSIE 10-YEAR TECHS: (U9) Range contracts
*RES 3: 99.2433 - 1st Pivot Resistance (97.1900 - 98.7350)
*RES 2: 98.8064 - 3.0% Upper Bollinger Band
*RES 1: 98.7350 - All Time Highs
*PRICE: 98.6500 @ 15:17 GMT, Jul 19
*SUP 1: 98.5605 - 50-dma
*SUP 2: 98.5250 - Weekly low
*SUP 3: 97.9950 - Apr18 Low
Friday trade was particularly uneventful for Aussie 10yr bonds, with ranges
tightening and intraday price action muted. Having bounced off the 50-dma
earlier in the week, 10yr futures ran out of steam before the weekend, although
bulls will have taken some confidence from Wednesday's price action as markets
now eye the better half of recent ranges, with 98.71 the first target. 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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