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(Z18) Not Constructive Yet.....>

AUSSIE 10-YEAR TECHS
AUSSIE 10-YEAR TECHS: (Z18) Not Constructive Yet
*RES 3: 97.5950 - 50% 98.2000-96.9875
*RES 2: 97.5325 - 2-month trendline resistance
*SUP 1: 97.4400 - Oct26 high
*PRICE: 97.2750 @ 16:13 GMT, Nov 12
*SUP 1: 97.1900 - Nov 9 low
*SUP 2: 97.1450 - Jun7/8 low
*SUP 3: 97.0450/0500 - May/YTD Low
Having failed to find support at the early October lows, 10-year futures
eventually gravitated higher Monday despite little volume or firm trend in
either direction. This adds to the argument that we may see a period of
stabilisation and neutrality in the coming sessions. 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 below there.
The upside target remains at key Fib retracement at 97.5950 and the 97.62 highs
printed back in April last year.

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