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(Z1) Off Lows, But Remains Weak

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: 98.380 @ 15:40 BST Oct 14
  • SUP 1: 98.200 - Low Oct 12
  • SUP 2: 98.045 - Low Feb 26
  • SUP 3: 97.957 - 23.6% 2020 Range

Aussie 10y futures have stabiised somewhat, partially reversing the weakness seen into the Tuesday close. The initial move lower followed the break of former support at 98.665, Sep 8 low. Continued weakness has pressed prices through 98.495, Jul 6 low as well as Fib support at 98.393. This opens losses toward 98.045 initially and toward the next major support of 97.957.

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

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