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(Z2) Broader Downtrend Intact

AUSSIE 10-YEAR TECHS
  • RES 3: 97.455 - High Mar 18
  • RES 2: 97.185 - High Apr 5
  • RES 1: 96.920/97.040 - High 200-dma / Aug 03
  • PRICE: 96.050 @ 19:52 BST Oct 10
  • SUP 1: 95.815 - Low Sep 29
  • SUP 2: 95.730 - 3.0% Lower Bollinger Band
  • SUP 3: 95.670 - Low Jun 17

Key short-term resistance in Aussie 10yr futures has been defined at 96.355, the Oct 6 low. The over-arching bear cycle remains intact and any further dip lower will pave the way for weakness toward 95.670, the Jun 17 low on the continuation contract. Moving average studies are in a bear mode set-up, highlighting a downtrend. Clearance of 96.355 would reinstate a short-term bull theme and highlight scope for a stronger recovery.

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