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(Z2) Bounce Remains Corrective

AUSSIE 10-YEAR TECHS
  • RES 3: 97.455 - High Mar 18
  • RES 2: 97.185 - High Apr 5
  • RES 1: 97.040/099 - High Aug 03 / 200-dma
  • PRICE: 96.270 @ 14:57 BST Oct 4
  • SUP 1: 95.865 - Low Sep 27
  • SUP 2: 95.805 - 3.0% Lower Bollinger Band
  • SUP 3: 95.670 - Low Jun 17

Aussie 10yr futures saw further support through the RBA decision, hitting new recovery highs at 96.34. This extends the bounce off 95.815 printed mid-last week. Nonetheless, the over-arching bear cycle remains intact and any dip lower will pave the way for weakness toward 95.670, the Jun 17 low. Moving average studies are in a bear mode set-up, highlighting a bearish theme. Key resistance remains at 97.040, the Aug 3 high.

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