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(Z0) Broader Bullish Case Intact

AUSSIE 3-YEAR TECHS
  • RES 3: 99.864 - 3.0% Upper Bollinger Band
  • RES 2: 99.833 - 1.50 proj of Aug 28 - Sep 17 rally from Sep 18 low
  • RES 1: 99.820 - Alltime High Sep 23
  • PRICE: 99.780 @ 17:56 BST Oct 5
  • SUP 1: 99.760 - Low Oct 1 and 2
  • SUP 2: 99.705 - Low Sep 18, 21 and 22
  • SUP 3: 99.675 - Low Sep 7 and key support

The Aussie 3yr bond price surge at the tail-end of September keeps the upside case intact. Although the rally up to 99.820 on Sep 23 didn't last, the pullback since is likely a correction with bullish trend conditions dominating. Further gains are likely near-term. On the downside, support has been defined at 99.760, Oct 1 and 2 low. A break of this level would suggest scope for a deeper corrective setback instead. 99.820 is the bull trigger.

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