June 09, 2022 21:45 GMT
(M2) Corrective Cycle Still In Play
AUSSIE 3-YEAR TECHS
- RES 3: 98.350 - High Mar 3
- RES 2: 97.975 - High Mar 16
- RES 1: 97.530 - High Mar 31
- PRICE: 96.874 @ 15:19 BST Jun 09
- SUP 1: 96.675 - Low May 4 and the bear trigger
- SUP 2: 96.612 - 3.0% Lower Bollinger Band
- SUP 3: 96.570- 0.5% 10-dma envelope
The primary trend direction in Aussie 3yr futures remains down and prices have begun to drift back toward levels last seen at the beginning of May. A primary bearish price sequence of lower lows and lower highs remains intact and moving average studies point south. A resumption of weakness would open 96.612 - the 3.0% lower Bollinger Band as well as 96.570, the lower band of a moving average envelope. Key short-term resistance is at 97.530, the Mar 31 high.
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