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(H2) Midpoint of December Range

AUSSIE 3-YEAR TECHS
  • RES 3: 99.795 - High Aug 20 (cont)
  • RES 2: 99.300 - High Oct 14/15
  • RES 1: 99.120 - High Oct 19 and key near-term resistance
  • PRICE: 98.765 @ 15:34 GMT Dec 21
  • SUP 1: 98.540 - Low Oct 29
  • SUP 2: 98.510 - 61.8% 2018 - 2020 Range
  • SUP 3: 97.957 - 1.0% 10-dma envelope

Aussie 3yr futures hold at the midpoint of the December range, having recovered the bulk of the post-Fed move lower. This keeps technical parameters unchanged at 98.66, the Dec16 low, and first resistance at 98.882. Markets need to top this last level to re-engage any rally.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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