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AUSSIE BONDS

XM Roll Given

US TSYS

Familiar Omicron Worry Provides A Bid

EQUITIES

E-Minis Pull Lower

JGBS

Bland 5-Year Auction

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  • RES 4: 133-12+ High Sep 22
  • RES 3: 132-21+ Low Aug 11 and recent breakout level
  • RES 2: 132-08+ High Oct 4
  • RES 1: 131-08/131-30+ High Nov 19 / High Nov 5
  • PRICE: 129-26 @ 16:27 GMT Nov 24
  • SUP 1: 129-03 50.0% of the Oct '18 - Mar '20 bull cycle
  • SUP 2: 128-17+ Low Jan 9, 2020 (cont)
  • SUP 3: 128-05 Low Jan 2, 2020 (cont)
  • SUP 4: 127-29 Low Dec 13, 2019

Treasuries are trading near recent lows. The contract has this week cleared the former key support at 129-31, Nov 17 low and this confirms a resumption of the downtrend. Moving average studies also highlight a bearish theme as they continue to point south. The break lower paves the way for a move towards 129-03 next, a Fibonacci retracement level. Key short-term resistance has been defined at 131-08, the Nov 19 high.