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(Z0) Focus Is On Resistance

AUSSIE 10-YEAR TECHS
  • RES 3: 99.125 - 1.000 proj of Aug 28 - Sep 4 rally from Sep 9 low
  • RES 2: 99.088 - 0.764 proj of Aug 28 - Sep 4 rally from Sep 9 low
  • RES 1: 99.070 - High Sep 4 and the bull trigger
  • PRICE: 99.024 @ 17:39 BST Sep 9
  • SUP 1: 98.970 - Low Sep 8 and the key near-term support
  • SUP 2: 98.935 - Low Sep 1
  • SUP 3: 98.990 - Low Aug 28

Aussie 10yr futures dipped sharply lower on Sep 7. The contract has since recovered and is attempting to regain the ground it lost. A continued push higher would refocus attention on last week's 99.070 high on Sep 4 that also marks the key short-term bull trigger. A break of this hurdle would set the scene for a stronger recovery and open 99.088 and 99.125, both Fibonacci projection levels. Key near-term support is at 98.970, Sep 8 low.

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