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(Z2) Bullish Extension

AUSSIE 10-YEAR TECHS
  • RES 3: 97.185 - High Apr 5
  • RES 2: 97.040 - Aug 03
  • RES 1: 96.760 - High Aug 16
  • PRICE: 96.672 @ 14:43 GMT Dec 9
  • SUP 1: 95.930/675 - Low Nov 8 / Low Oct 21
  • SUP 2: 95.670 - Low Jun 17
  • SUP 3: 95.590 - Low Dec 2013 and a key medium-term support

Aussie 10yr futures continue to climb. A key short-term resistance at 96.355, Oct 6 high, has been breached. This strengthens a short-term bullish position and the latest follow through reinforces this theme. Recent gains also highlight a positive price sequence of higher highs and higher lows, signalling scope for an extension. The 200-day EMA has been cleared, opening 96.760, Aug 16 high. Key support is 95.670, Jun 17 low (cont).

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

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