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(Z1) Short-End Weakness Persists

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: 98.715 @ 15:24 BST Oct 29
  • SUP 1: 98.540 - Low Oct 29
  • SUP 2: 98.510 - 61.8% 2018 - 2020 Range
  • SUP 3: 97.925 - 1.0% 10-dma envelope

Weakness in global short-end rates markets accelerated Thursday, prompting new lows for the Dec-21 Aussie 3yr future. This put prices through the 50% retracement of the 2018-2020 range, prompting a further deterioration in the outlook. This clears the way for support at 98.510, the 61.8% retracement of the 2018-2020 range. The outlook remains resolutely bearish.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Fixed Income Technical AnalysisHomepageBond Market Newsmarkets-real-timeBulletMarketsFixed Income Bullets
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Fixed Income Technical AnalysisHomepageBond Market Newsmarkets-real-timeBulletMarketsFixed Income Bullets

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