Free Trial

(H2) Probes Key Support

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: 98.600 @ 16:09 GMT Jan 24
  • 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.

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

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.