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(Z0) Extends Weakness

AUSSIE 10-YEAR TECHS
  • RES 3: 99.480 - High Mar 10 and the all-time high
  • RES 2: 99.360 - High Apr 2 (cont)
  • RES 1: 99.290 - High Oct 16
  • PRICE: 99.035 @ 16:13 BST Nov 11
  • SUP 1: 98.985 - Low Nov 11
  • SUP 2: 98.970 - Low Sep 8
  • SUP 3: 98.935 - Low Sep 18 and 21

New cycle lows printed alongside US bond futures as Aussie 10y futures fell to 98.985 early Wednesday. Overall, markets remain bullish despite the pullback this week. The break above 99.180, an area of congestion reflecting highs in Sep and early October confirmed a resumption of the uptrend that started on Aug 28. Attention turns to 99.300 and 99.360. The latter is the Apr 2 high (cont). The near-term bull trigger is 99.290, Oct 16 high.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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