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(Z2) Trading Closer To Its Recent Highs

  • RES 3: 97.185 - High Apr 5
  • RES 2: 96.587/97.040 - High 200-dma / Aug 03
  • RES 1: 96.520 - High Nov 25
  • PRICE: 96.365 @ 20:08 GMT Nov 29
  • SUP 1: 95.675 - Low Oct 21
  • SUP 2: 95.670 - Low Jun 17
  • SUP 3: 95.590 - Low Dec 2013 and a key medium-term support

A key short-term resistance in Aussie 10yr futures at 96.355, Oct 6 high, has recently been breached. This strengthens a short-term bullish position. Furthermore, recent gains also highlight a positive price sequence of higher highs and higher lows. signalling scope for an extension higher. The focus is on 96.587, the 200-day EMA. Key support is at 95.670, the Jun 17 low on the continuation contract.

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