Free Trial

(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: 95.645 @ 15:04 GMT Nov 29
  • 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.

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.