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(H3) Bear Cycle Still In Play

AUSSIE 3-YEAR TECHS
  • RES 3: 97.530 - High Mar 31 (cont)
  • RES 2: 97.295 - High Aug 3 (cont)
  • RES 1: 96.958 - High Dec 12 and a key resistance
  • PRICE: 96.490 @ 14:58 GMT Jan 03
  • SUP 1: 96.300 Oct 26
  • SUP 2: 96.070 - Low Sep 27 and bear trigger (cont)
  • SUP 3: 95.960 - Low Jun 17 (cont)

Aussie 3yr futures traded sharply lower to finish 2022, finishing the year on a bearish note. The move lower confirms an extension of the current bear cycle and undermines a recent bullish theme. A continuation lower would signal scope for weakness towards 96.070, the Sep 27 low on the continuation chart. This level is a key support and bear trigger. On the upside, key resistance has been defined at 96.958, the Dec 12 high.

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