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(Z1) Sell-Off Abates

AUSSIE 3-YEAR TECHS
  • RES 3: 99.927 - All time High Nov 3 and the bull trigger (cont)
  • RES 2: 99.860 - High Jun 14 (cont)
  • RES 1: 99.795 - High Aug 20 cont)
  • PRICE: 99.015 @ 16:02 BST Oct 26
  • SUP 1: 98.895 - Low Oct 18
  • SUP 2: 98.768 - 50.0% 2018 - 2020 Range
  • SUP 3: 98.510 - 61.8% 2018 - 2020 Range

The sell-off in short-end Aussie bonds accelerated Monday, but prices have stabilised somewhat since. Nonetheless, 3yr futures have shown through all nearby support levels, most notably a key Fib at 99.064 as well as the 99.00 handle. This puts the recent low just above the lowest levels since mid-2019, opening key Fib supports on the way lower at 98.768 and 98.510. The outlook remains resolutely bearish.

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

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