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(H2) Less Fragile

AUSSIE 3-YEAR TECHS
  • RES 3: 99.795 - High Aug 20 (cont)
  • RES 2: 99.300 - High Oct 14/15
  • RES 1: 98.775/920 - High Oct 19 and key near-term resistance
  • PRICE: 98.330 @ 16:15 GMT Feb 17
  • SUP 1: 98.230 - Low Feb 15
  • SUP 2: 98.191 - 76.4% 2018 - 2020 Range
  • SUP 3: 98.071 - 0.5% 10-dma envelope

Prices have stabilised close to recent lows, but the downtrend in Aussie 3yr futures persists, with prices touching contract lows in recent sessions. The clean break of 98.510, marking the 61.8% Fibonacci retracement of the 2018 - 2020 range, represents a bearish development, opening losses toward 98.191 over the medium-term. On the upside, 98.775, Jan 12 high and 98.920, Dec 29 high are the two resistance levels to watch.

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