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(Z1) Correction Extends

AUSSIE 10-YEAR TECHS
  • RES 3: 98.880 - High Aug 31 2021
  • RES 2: 98.755 - High Sep 23
  • RES 1: 98.390 - High Oct 15 and a key S/T resistance
  • PRICE: 98.210 @ 14:46 GMT Nov 10
  • SUP 1: 97.855 - Low Oct 29
  • SUP 2: 97.625 - 76.4% 2018-20 Range
  • SUP 3: 97.485 - Low Mar 19, 2020

Aussie 10y futures are trading higher and short-term signals suggest the current corrective bounce is likely to extend. The contract has probed resistance at 98.235, Oct 28 high. A clear break of this hurdle would signal potential for a climb towards 98.390, the Oct 15 high. The broader trend outlook remains bearish however and any resumption of weakness would refocus attention on the bear trigger at 97.855, Oct 29 low.

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