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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: 95.510 @ 16:20 GMT Nov 30
  • 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.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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