November 09, 2022 23:15 GMT
(Z2) Primary Trend Direction Remains Down
AUSSIE 10-YEAR TECHS
Fixed Income Technical AnalysisHomepageBond Market Newsmarkets-real-timeBulletMarketsFixed Income News
- RES 3: 97.185 - High Apr 5
- RES 2: 96.886/97.040 - High 200-dma / Aug 03
- RES 1: 96.355 - High Oct 6
- PRICE: 96.140 @ 15:22 GMT Nov 09
- SUP 1: 95.675 - Low Oct 21
- SUP 2: 95.670/613 - Low Jun 17 / 3.0% Lower Bollinger Band
- SUP 3: 95.590 - Low Dec 2013 and a key medium-term support
Key short-term resistance in Aussie 10yr futures is at 96.355, the Oct 6 high. While price remains below this resistance, the primary trend direction remains down and confirms recent short-term gains as corrective. A resumption of weakness would pave the way for 95.670, the Jun 17 low on the continuation contract. For bulls, clearance of 96.355 is required to reinstate a bull theme and highlight scope for a stronger recovery.
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