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(Z3) Dovish RBA Cements Recent Strength

AUSSIE 10-YEAR TECHS
  • RES 3: 96.160 - High Jul 20
  • RES 2: 96.050 - High Sep 4 and a key resistance
  • RES 1: 95.924 - High Sep 15
  • PRICE: 95.540 @ 15:57 GMT Nov 28
  • SUP 1: 95.134 - Lower 2.0% Bollinger Band
  • SUP 2: 94.965 - Low Oct 31
  • SUP 3: 94.242 - 1.0% 10-dma envelope

Aussie 10yr futures continue to improve off the November lows and the recent recovery has tipped prices north of the 50-dma. This keeps the short-term corrective cycle higher intact, targeting 95.590 initially, ahead of the 100-dma of 95.654. Key support lies below at 95.390 as well as 95.275. Weakness through here could mark the conclusion of the bounce off the bear trigger at 94.965.

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