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(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: 98.460 @ 15:42 BST Sep 29
  • SUP 1: 98.450 - Low Sep 30
  • SUP 2: 98.393 - 61.8% February - August Uptrend
  • 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 has pressed prices through 98.495, Jul 6 low (cont). This opens losses toward 61.8% Fib for the March - August rally at 98.393 as well as the Jun 17 low at 98.320.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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