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NZD

Kiwi Kept In Check Despite Risk-On Impulse

JGB TECHS

(Z1) Strong Weekly Close

‌‌(Z1)‌‌ Failed Break Higher

US 10YR FUTURE TECHS
  • RES 4: 135-26+ High Aug 4 and the bull trigger
  • RES 3: 134-09+ High Aug 5
  • RES 2: 134-00+ High Aug 17
  • RES 1: 133-28 High Sep 3
  • PRICE: 133-11 @ 16:45 BST Sep 3
  • SUP 1: 133.07/132-25+ Sep 1 low / Low Aug 26
  • SUP 2: 132-21+ Low Aug 11
  • SUP 3: 132-12 0.764 proj of the Aug 4 - 11 - 17 price swing
  • SUP 4: 131-27+ 1.00 proj of the Aug 4 - 11 - 17 price swing

Treasury futures rallied sharply on the poor NFP release, touching 133-28 and a new September higher. These gains were very short-lived, however, with prices correcting into the close. A key support lies at 132-21+, Aug 11 low. A break of this level is required to signal potential for a deeper pullback and potentially a stronger reversal. Short-term conditions appear to have improved for bulls on the back of recent gains however. Resistance to watch is at 134-00+, Aug 17 high. A break would expose 134-26+, Aug 4 high.