Free Trial

(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: 96.250 @ 16:17 GMT Feb 23
  • 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 and PPI releases in recent weeks. 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.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.