September 29, 2024 21:45 GMT
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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