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(Z0) Broader Bullish Case Intact

AUSSIE 3-YEAR TECHS
  • RES 3: 100.00 - Handle Resistance
  • RES 2: 99.864 - 3.0% Upper Bollinger Band
  • RES 1: 99.840 - Alltime High Oct 6
  • PRICE: 99.820 @ 16:32 BST Oct 7
  • 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, with new highs being printed at the beginning of this week up at 99.840. Pullbacks from here remain corrective 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.

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