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(H1) Under Pressure

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: 99.780 @ 16:19 GMT Feb 18
  • SUP 1: 99.775 - Low Feb 18
  • SUP 2: 99.760 - Low Oct 1 and 2
  • SUP 3: 99.705 - Low Sep 18, 21 and 22

The global bond abated slightly Thursday, but the outlook remains weak. The Australian short-end holds close to 2021 lows, keeping the downside focus for now. 99.770, Dec 17/18 low represents a key S/T support and a break below would reinstate a bearish theme. To the upside, a break of 99.835, Dec 23 high would trigger a stronger round of gains and set the scene for a climb towards 99.840, Nov 23/24 high ahead of the major resistance at 99.860, the all time high from Nov 3.

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