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(H3) Clawing Back Losses

  • RES 3: 97.530 - High Mar 31 (cont)
  • RES 2: 97.295 - High Aug 3 (cont)
  • RES 1: 97.040 - High Jan 19
  • PRICE: 96.890 @ 16:30 GMT Feb 6
  • 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)

The recovery across Aussie 3yr futures faded into the Friday close, as the rally ran out of steam ahead of 97.040 resistance. For now, the short-term outlook remains positive in the context of the YTD rally, which has provided a constructive backdrop for bulls. The bounce put prices above first key resistance at 96.958, and prices holding above this mark helps argue for further gains. Any resumption 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.

MNI London Bureau | +44 203-865-3809 |
MNI London Bureau | +44 203-865-3809 |

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