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(Z0) Upside Case Intact

AUSSIE 3-YEAR TECHS
  • RES 3: 99.820 - Alltime High Sep 23
  • RES 2: 99.819 - 3.0% Upper Bollinger Band
  • RES 1: 99.790 - High Sep 24
  • PRICE: 99.785 @ 15:56 BST Sep 24
  • SUP 1: 99.675 - Low Sep 7 and key support
  • SUP 2: 99.665 - Low Sep 2
  • SUP 3: 99.660 - Low Aug 28 and 31 and low Sep 1

A dovish RBA outlook from some influential sell-side analysts helped Aussie bond prices surge this week. This resulted in an impulsive rally up to 99.820 before prices faded. While there were few fresh technical signals behind the move, persistent RBA accommodation should keep prices supported going forward. First resistance lies at 99.790 and 99.795 above. Weakness below 99.675 is required to dampen the current bullish sentiment.

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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