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AUSSIE 3-YEAR TECHS: (U4) Multi Month Highs

AUSSIE 3-YEAR TECHS
  • RES 3: 96.380 - High Mar 21 2023
  • RES 2: 97.190 - High May 5 2023 
  • RES 1: 96.932 - 76.4% retracement of the Mar - Nov 2023 bear leg 
  • PRICE: 96.420 @ 16:17 BST Aug 6
  • SUP 1: 95.940 - Low Jul 25 
  • SUP 2: 95.820 - Low Jun 20
  • SUP 3: 95.480 - Low Jan 11 2023 and a major support 

Aussie 3yr futures have pulled back from their most recent highs. Any short-term move lower is considered corrective that would allow an oversold condition to unwind. Last week’s strong rally reinforces a bullish condition and signals scope for an extension towards 96.932, a Fibonacci retracement point on the continuation chart. Initial firm support lies at 95.940, the Jul 25 low.

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