Free Trial

(Z9) Eyes turn to Fib support...>

AUSSIE 3-YEAR TECHS
AUSSIE 3-YEAR TECHS: (Z9) Eyes turn to Fib support
*RES 3: 99.410 - All Time High
*RES 2: 99.380 - Sep 2 High
*RES 1: 99.230 - 50-dma
*PRICE: 99.155 @ 15:33 GMT Sep 10
*SUP 1: 99.104 - 76.4% Fib 99.010 - 99.410
*SUP 2: 99.070 - 100-dma
*SUP 3: 99.024 - 23.6% 97.775 - 99.410
With previously firm support at the 50-dma giving way, the likelihood of a
further leg lower in Aussie 3-yr bond futures rose Tuesday, with eyes turning to
Fib support at 99.104 for direction. This provides the latest, and firmest, sign
that the uptrend this year is under threat. The recent print up at 99.39 last
week will need to be revisited to keep bulls in the game here, but momentum is
turning increasingly against them.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.