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(M2) RBA Presses Prices Further


Approaching Its M/T Bull Trigger

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(H2) Probes Key Support

  • 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: 98.620 @ 20:14 GMT Jan 20
  • SUP 1: 98.530 - Low Jan 20
  • SUP 2: 98.510 - 61.8% 2018 - 2020 Range
  • SUP 3: 97.694 - 1.0% 10-dma envelope

Aussie 3yr futures remain in a downtrend. The contract has continued to edge off the holiday season highs of 98.92, breaking through the bottom-end of the recent range. Futures have probed key support at 98.540, the Oct 29 low. A clear break would represent an important technical break and confirm a resumption of the broader downtrend. 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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