Free Trial

(Z2) Trend Outlook Remains Bearish

AUSSIE 10-YEAR TECHS
  • 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: 95.910 @ 15:05 BST Oct 20
  • SUP 1: 95.815 - Low Sep 29
  • SUP 2: 95.670/663 - 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. The primary trend direction remains down and a continuation lower will pave the way for weakness towards 95.670, the Jun 17 low on the continuation contract. Moving average studies are in a bear mode set-up, highlighting a broader downtrend. On the upside, clearance of 96.355 is required to reinstate a bull theme and highlight scope for a stronger recovery.

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.