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(H3) Bounce Firms For Solid Weekly Close

AUSSIE 3-YEAR TECHS
  • RES 3: 97.530 - High Mar 31 (cont)
  • RES 2: 97.295 - High Aug 3 (cont)
  • RES 1: 97.040 - High Jan 19
  • PRICE: 96.792 @ 15:50 GMT Mar 10
  • SUP 1: 96.280 - Low Feb 22
  • SUP 2: 96.070 - Low Sep 27 and bear trigger (cont)
  • SUP 3: 95.960 - Low Jun 17 (cont)

The bounce across Aussie 3yr futures firmed into the Friday close on the back of a solid US jobs report, rallying to touch 96.794. The near-term strength opens further gains toward next resistance at the Jan 19 high at 97.040. More broadly, however, the onus remains lower for now. Markets printed a fresh pullback low at 96.280 in recent weeks. Any further weakness will signal scope for a decline towards 96.070, the Sep 27 low on the continuation chart. This level is a key support and bear trigger.

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