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

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: 96.230 @ 15:59 BST Oct 07
  • SUP 1: 96.210/95.940 - Low Oct 7 / Low Jul 25 
  • SUP 2: 95.820 - Low Jun 20
  • SUP 3: 95.480 - Low Jan 11 2023 and a major support 

The bullish theme in Aussie 3yr futures is being challenged on the latest leg lower, but 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 95.940, the Jul 25 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: 96.230 @ 15:59 BST Oct 07
  • SUP 1: 96.210/95.940 - Low Oct 7 / Low Jul 25 
  • SUP 2: 95.820 - Low Jun 20
  • SUP 3: 95.480 - Low Jan 11 2023 and a major support 

The bullish theme in Aussie 3yr futures is being challenged on the latest leg lower, but 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 95.940, the Jul 25 low.