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AUSSIE BONDS

Back To Neutral Levels

AUD

Continues Slide

CROSS ASSET

Risk Assets Struggling On Evergrande Worry?

SGD

Lower For Third Session

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  • RES 4: $1496.94 - 0.618 proj of Mar 31 - May 12 - May 26 price swing
  • RES 3: $1480.00 - High Jun 7 and the bull trigger
  • RES 2: $1466.00 - High Jun 8
  • RES 1: $1423.00 - High Jul 1
  • PRICE: $1319.50 @ 12:22 BST Aug 05
  • SUP 1: $1300.50 - Low Jul 6
  • SUP 2: $1240.50 - Low Jun 17 and key short-term support
  • SUP 3: $1200.00 - Psychological round number
  • SUP 4: $1185.50 - Low Mar 30

Soybean futures are broadly unchanged and trading well below recent highs. The outlook is bullish with the focus on resistance at $1423.00, Jul 1 high. A break would negate recent bearish signals and highlight a stronger short-term tone and the potential for a climb towards this year's high of $1480.00 from Jul 6. Clearance of $1480.00 would confirm a resumption of the primary uptrend. Initial firm support is at $1300.50, July 6 low. A break would be bearish.