(Z9) Contracting Range *RES....>

AUSSIE 10-YEAR TECHS: (Z9) Contracting Range

*RES 3: 99.1700 - All Time Highs

*RES 2: 99.1429 - 2.0% Upper Bollinger Band

*RES 1: 99.1550 - Oct 7 high

*PRICE: 98.9050 @ 15:35 GMT, Oct 31

*SUP 1: 98.7714 - 61.8% July-Aug Rally

*SUP 2: 98.7675 - Sep low

*SUP 3: 98.5250 - July low

Having slipped through the 100-dma early last week, the short-term outlook

remains negative, keeping last week's lows as the initial target. Should this

give way, markets eye the September lows at 98.7675 for further direction and

the July lows at 98.5250. For a near-term bottom to be formed, bulls need to

retake 98.9550 before the 99.00 handle can be considered.