Free Trial

(Z9) Strong Start to the Week...>

AUSSIE 3-YEAR TECHS
AUSSIE 3-YEAR TECHS: (Z9) Strong Start to the Week
*RES 3: 99.609 - 3.0% Upper Bollinger Band
*RES 2: 99.551 - 23.6% Extension of Sep 16 - Oct 7
*RES 1: 99.460 - All Time High
*PRICE: 99.440 @ 14:51 GMT Oct 7
*SUP 1: 99.369 - 23.6% Sep 16 - Oct 7
*SUP 2: 99.305 - 50-dma
*SUP 3: 99.238 - 23.6% Apr 15 - Oct 7
Another day another high for Aussie 3yr futures, with the mini-rally helping
press prices to a new all time high at 99.460. The trigger for this move, last
week's RBA rate cut, is clearing holding ground Monday, keeping upside targets
at purely theoretical levels. Vol band resistance at 99.609 and Fib extensions
at 99.551 the first targets. The 50-dma remains support, which bears will need
to close below before the outlook deteriorates. For now, bulls are in control.

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.