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(H4) Bullish Theme

AUSSIE 3-YEAR TECHS
  • RES 3: 97.380 - High Mar 21 and a major resistance (cont)
  • RES 2: 97.190 - High May 5 (cont)
  • RES 1: 96.670 - High Jun 2
  • PRICE: 96.470 @ 19:28 GMT Jan 31
  • SUP 1: 96.120/95.750 - Jan 18 - 22 low / Low Nov 27
  • SUP 2: 95.480 - Low Oct 31
  • SUP 3: 95.300 - 3.00 proj of the Mar 21 - May 2 - May 5 price swing

Aussie 3yr futures trend conditions remain bullish and the latest recovery is a positive development. Key resistance at the top of the range was pierced on the last rally (late December) and a continuation higher would be a bullish development that would open 96.670, the Jun 2 high. Late November lows mark the first notable support at 95.750 (Nov 27). If 95.750 gives way, this would open 95.480, Oct 31 low.

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