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(Z1) Near-Term Strength Persists

AUSSIE 10-YEAR TECHS
  • RES 3: 98.880 - High Aug 31 2021
  • RES 2: 98.755 - High Sep 23
  • RES 1: 98.460 - High Dec 06
  • PRICE: 98.420 @ 16:43 GMT Dec 06
  • SUP 1: 97.855 - Low Oct 29
  • SUP 2: 97.625 - 76.4% 2018-20 Range
  • SUP 3: 97.485 - Low Mar 19, 2020

Strength across Aussie 10y futures remains evident, with prices rising to touch 98.460. This opens the potential for gains towards 98.755, the Sep 23 high. The moves run counter to the previously bearish outlook, with prices recovering back toward the 200-dma at 98.431, which remains the next upside target. Any resumption of weakness would refocus attention on the bear trigger at 97.855, Oct 29 low.

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

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