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(Z0) Remains Heavy on Vaccine News

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: 99.085 @ 16:21 BST Nov 17
  • SUP 1: 98.985 - Low Nov 11
  • SUP 2: 98.970 - Low Sep 8
  • SUP 3: 98.935 - Low Sep 18 and 21

Aussie 10yr futures took a knock Monday, edging lower as Moderna released positive efficacy results for their COVID vaccine. Nonetheless, prices look to recover quickly, doing little to change the outlook for now. Markets remain bullish after the recent 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

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