Free Trial

(Z18) Bullish Case Wanes.......>

AUSSIE 10-YEAR TECHS
AUSSIE 10-YEAR TECHS: (Z18) Bullish Case Wanes
*RES 4: 97.6200 - High April 8, 17 (Continuation chart)
*RES 3: 97.5950 - 50% 98.2000-96.9875
*RES 2: 97.5325 - 2-month trendline resistance
*SUP 1: 97.4400 - Oct26 high
*PRICE: 97.3000 @ 16:35 GMT, Nov 20
*SUP 1: 97.1900 - Nov 9 low
*SUP 2: 97.1450 - Jun7/8 low
*SUP 3: 97.0450/0500 - May/YTD Low
*SUP 4: 96.8950 - 50% 95.5900-98.2000
Recent ranges were respected Tuesday, but the case for a further move higher has
weakened somewhat. For the Bullish argument to regain some strength, markets
need to recover 97.44, the late October high. A break above here would confirm a
bullish breakout and shift the target up to 97.5950. For bears to regain the
upper hand, a close below the Nov9 lows at 91.19 would renew downside pressure
and open the door to further declines down to 97.1450 and YTD lows.

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.