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AUSSIE 3-YEAR TECHS: (Z4) Trend Needle Points North

AUSSIE 3-YEAR TECHS
  • 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: 96.570 @ 15:01 BST Sep 27
  • SUP 1: 96.290/95.940 - Low Aug 8 / Low Jul 25 
  • SUP 2: 95.820 - Low Jun 20
  • SUP 3: 95.480 - Low Jan 11 2023 and a major support 

A bullish theme in Aussie 3yr futures remains intact and the latest move lower is considered corrective. 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 96.290, 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: 96.570 @ 15:01 BST Sep 27
  • SUP 1: 96.290/95.940 - Low Aug 8 / Low Jul 25 
  • SUP 2: 95.820 - Low Jun 20
  • SUP 3: 95.480 - Low Jan 11 2023 and a major support 

A bullish theme in Aussie 3yr futures remains intact and the latest move lower is considered corrective. 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 96.290, the Jul 25 low.