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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: 95.565 @ 16:09 BST Oct 13
  • SUP 1: 95.322 - Lower 2.0% Bollinger Band
  • SUP 2: 95.260 - Low Oct 04
  • SUP 3: 94.534 - 1.0% 10-dma envelope

The Aussie 10yr futures broader trend direction is down, however prices recovered into the tail-end of the week. 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.

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

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