Free Trial

(Z17) Above 97.2300 To Shift...>

AUSSIE 10-YEAR TECHS
AUSSIE 10-YEAR TECHS: (Z17) Above 97.2300 To Shift Focus To DMAs 
*RES 4: 97.3019 - 21-DMA
*RES 3: 97.2300 - Low July 26 now resistance
*RES 2: 97.2100 - Monthly Low July 20 now resistance
*RES 1: 97.1850 - High Sept 19
*PRICE: 97.1550 @ 2130GMT
*SUP 1: 97.1450 - Hourly resistance Sept 21 now support
*SUP 2: 97.1150 - Alternating hourly support/resistance
*SUP 3: 97.0750 - Low Sept 21
*SUP 4: 97.0600 - High Mar 10 now support
*COMMENTARY: The lack of follow through on Thursdays 6mth lows is less than
ideal for bears given daily studies correcting from O/S and the Bollinger base
(97.1178) limiting follow through. Bulls now need a close above 97.2300 to
confirm an easing of bearish pressure and to shift focus back to 97.3019-4182
where DMAs and the bear channel top are situated. Bears now need a close below
97.1150 to retain initial focus on 97.0600.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.