(Z18) Building A Base At.......>

AUSSIE 10-YEAR TECHS: (Z18) Building A Base At 97.1950

*RES 3: 97.5950 - 50% 98.2000-96.9875

*RES 2: 97.5325 - 2-month trendline resistance

*SUP 1: 97.4069 - Short-term uptrend beginning Aug 13

*PRICE: 97.2750 @ 16:42 GMT, Oct 15

*SUP 1: 97.1950 - Oct 9 low

*SUP 2: 97.1450 - Jun7/8 low

*SUP 3: 97.0450/0500 - May/YTD Low

Prices remain anchored by the 50% retracement of the Oct3-Oct10 decline at

97.2750, preventing bulls from having another go at challenging last week's best

levels. Nonetheless, the modest recovery Monday topped out at 97.30, marking the

high watermark for bulls to target, who will have taken confidence from the

contract's ability to hold above the recent 97.195 low. It's too soon to call

for a bullish breakout, with the medium-term trend still tilted bearish, but a

fresh rally through the 50-dma at 97.3647 will see some upside momentum return.

This leaves the next key support levels at the early June lows of 97.145.