Quarterly Outlook
Fixed Income Outlook: Bonds Hit Reset. A New Equilibrium Emerges
Althea Spinozzi
Head of Fixed Income Strategy
Technical Analyst, Saxo Bank
ASX 200 is bouncing of 0.382 Fibonacci retracement level at around 6,400 moving back to test the 200 weekly SMA which acts as resistance.
Weekly chart
The bounce has the potential to move back to test the 0.382 retracement of the June sell-off at around 6,745 before selling is likely to resume. If the rebound runs out of steam and drops below 6,493 the trough at 6,410 is likely to be taken out and ASX 200 Index to resume its bear trend
Daily chart