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Belly-Led Cheapening In Wake Of Retail Sales

AUSSIE 10-YEAR TECHS

(Z1) Turning More Neutral

ECB

ECB Plays Down FT Story

AUSSIE 3-YEAR TECHS

(Z1) Incline Accelerates

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  • RES 4: 155.71 High Aug 5 and the bull trigger (cont)
  • RES 3: 155.68 High Aug 25
  • RES 2: 155.14 High Aug 31
  • RES 1: 154.63 High Sep 14
  • PRICE: 154.51 @ Close Sep 14
  • SUP 1: 153.66 Low Sep 14
  • SUP 2: 152.94/84 Low Sep 9 / 50.0% of Jun 25 - Aug 5 rally (cont)
  • SUP 3: 152.66 Low Jul 15 (cont)
  • SUP 4: 152.16 61.8% retracement of the Jun 25 - Aug 5 rally (cont)

BTP futures trend conditions remain bearish despite the strong bounce on Sep 9, with the contract holding onto these recent gains for now. A bearish price sequence of lower lows and lower highs that signals potential for a continuation lower remains intact. The focus is on 152.84 next, a Fibonacci retracement. On the upside, further gains would open resistance at 155.14, the Aug 31 high.