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(H3) Shallow Bounce

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: 96.568 @ 15:50 GMT Mar 9
  • 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)

Aussie 3yr futures underwent a shallow bounce following the RBA decision Tuesday, rallying to touch 96.650 before fading. 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. To the upside, late February highs at 97.020 provide the first resistance ahead of 97.090.

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