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(Z3) Trend Needle Points North

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: 95.703 @ 17:09 GMT Dec 12
  • SUP 1: 95.317 - Lower 2.0% Bollinger Band
  • SUP 2: 94.965 - Low Oct 31
  • SUP 3: 94.570 - 1.0% 10-dma envelope

Aussie 10yr futures remain in a short-term uptrend and the contract is trading higher on the week. The recent recovery has tipped prices north of the 50-dma - reinforcing the current bullish theme. This keeps the short-term corrective cycle higher intact and signals scope for a climb towards 95.924, the Sep 15 high. 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.

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