Free Trial

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

AUSSIE 10-YEAR TECHS
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.

To read the full story

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.