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(H4) Sell-Off Slows

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: 96.490/96.670 - High Dec 28 / High Jun 2
  • PRICE: 96.170 @ 15:12 GMT Jan 18
  • SUP 1: 95.750 - 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, with the recovery off lows into the Friday close helping stall the corrective pullback off last week’s highs. Key resistance at the top of the range was pierced on the last rally, meaning a clear break would be a bullish development and 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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