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CHINA PRESS

China Repo Rates Fall on Thursday

CHINA PRESS

Evergrande Risks Can Be Controlled: PBOC

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  • 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: 98.735 @ 19:32 BST Sep 22
  • 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.