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(H1) Testing A Key Support Handle

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: 99.851 - 3.0% Upper Bollinger Band
  • PRICE: 99.795 @ 19:25 GMT Dec 15
  • SUP 1: 99.796 - Low Dec 11 / 14
  • SUP 2: 99.760 - Low Oct 1 and 2
  • SUP 3: 99.705 - Low Sep 18, 21 and 22

Aussie 3yr futures are testing a key support level at the 99.800 handle with the recent low nearby at 99.796, low Dec 11 and 14. A clear breach of this level would clear a support that has held since mid-October. A move lower would also highlight a broader top following the recent pullback from 99.860, Nov 11 high (cont) and open 77.789, 38.2% retracement of the Aug 28 - Nov 3 rally. Resistance is at 99.818.

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