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(Z3) Medium-Term Trend Remains Bearish

AUSSIE 10-YEAR TECHS
  • RES 3: 97.040 - High Aug 03 2022 (cont)
  • RES 2: 96.780/975 - High May 5 / High Mar 14
  • RES 1: 96.160 / 440 - High Jul 20 / High Jun 2
  • PRICE: 95.805 @ 20:14 BST Sep 18
  • SUP 1: 95.670/660- Low Jun 17 2022 / Low Aug 17
  • SUP 2: 95.300 - 1.50 proj of the Jul 20 - Aug 17 - Sep 4 price swing
  • SUP 3: 94.895 - 1.0% 10-dma envelope

Aussie 10 yr futures have traded lower. The broader trend direction is down and the key support and bear trigger is 95.660, the Aug 17 low. A break of this level would reinforce a bearish theme and confirm the breach of a major support at 95.670, the Jun 17 2022 low. This would confirm a resumption of the medium-term downtrend. Initial key resistance has been defined at 96.160, the Jul 20 high. A break would expose 96.440, the Jun 2 high.

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