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AUSSIE 3-YEAR TECHS: (Z4) Bullish Backdrop Erased

AUSSIE 3-YEAR TECHS
BulletMarketsFixed Income BulletsFixed Income Technical Analysis
  • RES 3: 96.380 - High Mar 21 2023
  • RES 2: 97.190 - High May 5 2023 
  • RES 1: 96.730/932 - High Sep 17 / 76.4% of Mar-Nov ‘23 bear leg 
  • PRICE: 95.920 @ 16:29 GMT Nov 04
  • SUP 1: 95.910 - Low Nov 04
  • SUP 2: 95.820 - Low Jun 20
  • SUP 3: 95.480 - Low Jan 11 2023 and a major support 

Prices hit a fresh pullback low at 95.910 to begin the week, extending losses on the break through the 96.080 support. Nonetheless, there remain signs that the pullback in prices is corrective as of now. Note that on the continuation chart, moving average studies remain in a bull-mode position and this highlights a medium-term uptrend. Scope is seen for a climb towards 96.932, a Fibonacci retracement point on the continuation chart. Initial firm support lies at 95.820, the Jun 20 low. 

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  • RES 3: 96.380 - High Mar 21 2023
  • RES 2: 97.190 - High May 5 2023 
  • RES 1: 96.730/932 - High Sep 17 / 76.4% of Mar-Nov ‘23 bear leg 
  • PRICE: 95.920 @ 16:29 GMT Nov 04
  • SUP 1: 95.910 - Low Nov 04
  • SUP 2: 95.820 - Low Jun 20
  • SUP 3: 95.480 - Low Jan 11 2023 and a major support 

Prices hit a fresh pullback low at 95.910 to begin the week, extending losses on the break through the 96.080 support. Nonetheless, there remain signs that the pullback in prices is corrective as of now. Note that on the continuation chart, moving average studies remain in a bull-mode position and this highlights a medium-term uptrend. Scope is seen for a climb towards 96.932, a Fibonacci retracement point on the continuation chart. Initial firm support lies at 95.820, the Jun 20 low.