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AUSSIE 3-YEAR TECHS: (U4) Bounce Largely Holds

AUSSIE 3-YEAR TECHS
  • RES 3: 96.540 - High Feb 2 and a Key resistance 
  • RES 2: 96.506 - High Mar 11 
  • RES 1: 96.300 - High Jun 17
  • PRICE: 96.060 @ 15:58 BST Jul 29
  • SUP 1: 95.730 - 76.4% retracement of the Jan - Feb rally 
  • SUP 2: 95.480 - Low Oct 31
  • SUP 3: 95.330 - 2.618 proj of the Feb 2 - Feb 14 - Mar 11 price swing

Aussie 3yr futures stayed strong Friday having started the week on a mainly consolidative note. The contract has cleared the 96.000 handle. Prices need to hold on to the latest gains and this would signal potential for a climb towards the next resistance at 96.210. Any bearish reversal would turn the focus towards 95.730, a Fibonacci retracement point. The bear trigger remains 95.820, the Jun 27 low.

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