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(Z0) Upside Case Intact

  • RES 3: 99.847 - 23.6% Sep 22 - 23 Projection
  • RES 2: 99.835 - 3.0% Upper Bollinger Band
  • RES 1: 99.820 - Alltime High Sep 23
  • PRICE: 99.775 @ 16:40 BST Sep 30
  • 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 at the beginning of last 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. Having edged higher into the close of the week, first resistance rests at First levels to the upside rest at vol band resistance of 99.835.

MNI London Bureau | +44 203-865-3809 |
MNI London Bureau | +44 203-865-3809 |

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