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(H2) Consolidating But Needle Still Points South

AUSSIE 3-YEAR TECHS
  • RES 3: 99.795 - High Aug 20 (cont)
  • RES 2: 99.300 - High Oct 14/15
  • RES 1: 98.675/920 - High Feb 1 / High Dec 29 and key resistance
  • PRICE: 98.400 @ 16:50 GMT Feb 28
  • SUP 1: 98.210 - Low Feb 23
  • SUP 2: 98.191 - 76.4% 2018 - 2020 Range
  • SUP 3: 97.825 - 0.5% 10-dma envelope

Aussie 3yr futures remain inside its recent range. The contract traded lower last week, delivering a fresh low of 98.210. This cements the downtrend following the clean break of 98.510, the 61.8% Fibonacci retracement of the 2018 - 2020 range. This marks a bearish development, opening losses toward 98.191 over the medium-term. On the upside, 98.675, Feb 1 high and 98.920, Dec 29 high are the two resistance levels to watch.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Fixed Income Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income Bullets
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Fixed Income Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income Bullets

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