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(Z9) Under Pressure *RES 3:....>

AUSSIE 10-YEAR TECHS
AUSSIE 10-YEAR TECHS: (Z9) Under Pressure
*RES 3: 98.9200 - High Nov 1
*RES 2: 98.8785 - Bear channel resistance drawn off Oct 9 high
*RES 1: 98.8100 - Low Oct 22 and former breakout point
*PRICE: 98.7400 @ 19:00 GMT, Nov 5
*SUP 1: 98.7250 - Intraday low
*SUP 2: 98.6550 - Bear channel base drawn off Oct 9 high
*SUP 3: 98.6100 - 1.000 projection of Oct 8 - Oct 22 decline from Oct 25 high
Aussie 10yr futures continue to sell-off sharply and today so far is no
exception. The result of the current bearish pressure has been a break today of
former key support at 98.7675, Sep 16 low. With the downtrend clearly defined
through the price sequence of lower lows and lower highs, further weakness is
likely. Attention turns to the base of the bear channel drawn off Oct 9 high
that intersects at 98.6550. Initial resistance is at 98.81, Oct 22 low and
former breakout point.

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