Free Trial

(Z1) Bearish Price Sequence

AUSSIE 10-YEAR TECHS
  • RES 3: 99.165 - High Nov 20, 2020
  • RES 2: 98.996 - 76.4% retracement of the Oct '20 - Feb sell-off
  • RES 1: 98.780 - High Sep 16
  • PRICE: 98.645 @ 20:02 BST Sep 17
  • SUP 1: 98.607 - 38.2% retracement of the Feb - Aug rally
  • SUP 2: 98.495 - Low Jul 6
  • SUP 3: 98.320 - Low Jun 17

Aussie 10y futures continue to weaken and the recent break of former support at 98.665, Sep 8 low reinforces a bearish sequence of lower lows and lower highs that defines a downtrend. Continued weakness would signal scope for levels below 98.60 towards 98.795, Jul 6 low (cont). The contract needs to re-take 98.780, Sep 16 high to reinvigorate the upside argument, but for now a bearish threat dominates.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.