Free Trial

(Z3) Medium-Term Trend Direction Cemented Lower

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: 95.425 @ 15:28 BST Sep 28
  • SUP 1: 95.410 - Low Sep 28
  • SUP 2: 95.300 - 1.50 proj of the Jul 20 - Aug 17 - Sep 4 price swing
  • SUP 3: 94.802 - 1.0% 10-dma envelope

The Aussie 10yr futures broader trend direction is down, with the weakness cementing itself further Thursday. Key support and the bear trigger at 95.660, the Aug 17 low, has been breached. The break of this level reinforces a bearish theme and also confirms the breach of a major support at 95.670, the Jun 17 2022 low, marking a resumption of the medium-term downtrend. The focus is on 95.300, a Fibonacci projection. Initial key resistance has been defined at 96.050, the Sep 4 high.

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

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.