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(H4) Bullish Theme Falters

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: 96.210 @ 15:51 GMT Feb 16
  • SUP 1: 96.110 - Low Feb 14
  • SUP 2: 95.750/480 - Low Nov 27 / 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, despite the fade in prices following the higher-than-expected US CPI release. Key resistance at the top of the range was pierced on the last rally (late December) and this week’s gains above the December highs reinforces a bullish theme. A continuation higher would open 96.670, the Jun 2 high. The Jan 18 - 22 low at 96.120 has been pierced, but short-term weakness is considered corrective above 95.75.

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