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(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: 95.360 @ 15:49 BST Oct 4
  • SUP 1: 95.320 Lower 2.0% Bollinger Band
  • SUP 2: 95.260 - Low Oct 04
  • SUP 3: 94.565 - 1.0% 10-dma envelope

The Aussie 10yr futures broader trend direction is down, with the weakness cementing itself further through the Wednesday close. 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 95.260, the October pullback low. Initial key resistance has been defined at 96.050, the Sep 4 high.

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