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MYR

Firmer Start

FOREX

AUD Leads G10 Pack, Volatility Subdued

US TSYS

Marginally Cheaper Early On

AUSSIE BONDS

YM Nudges Lower On Lack Of YCT Purchases

RBA

ACGB Purchase Offer Details

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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: 98.645 @ 17:01 BST Sep 23
  • 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.