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(H1) Bears in Control

AUSSIE 3-YEAR TECHS
  • RES 3: 100.00 - Psychological round number
  • RES 2: 99.860 - All time High Nov 3 and the bull trigger
  • RES 1: 99.840 - Nov 23/24 high
  • PRICE: 99.670 @ 16:35 GMT Feb 25
  • SUP 1: 99.651 - 3.0% Lower Bollinger Band
  • SUP 2: 99.650 - Low Feb 25
  • SUP 3: 99.552 - 38.2% 2020 Rally

The outlook went from bad to worse for Aussie 3yr futures, with prices hitting new cycle lows of 99.650 Thursday. This further cements the negative outlook, raising the risk of a more protracted downturn after prices slipped through 99.736 Fib support. To the upside, a break of 99.835, Dec 23 high would trigger gains and set the scene for a climb towards 99.840, Nov 23/24 high.

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