Free Trial

(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: 96.130 @ 14:45 BST Oct 6
  • 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.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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.