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AUSSIE 3-YEAR TECHS: (H5) Bear Cycle Still In Play

AUSSIE 3-YEAR TECHS
Fixed Income Technical AnalysisMarketsFixed Income BulletsBullet
  • RES 3: 97.190 - High May 5 2023
  • RES 2: 96.730/932 - High Sep 17 / 76.4% of Mar-Nov ‘23 bear leg 
  • RES 1: 96.190/360 High Dec 31 / High Dec 11  
  • PRICE: 95.920 @ 20:13 GMT Jan 13
  • SUP 1: 95.830 - 1.000 proj of the Dec 11 - 20 - 31 price swing  
  • SUP 2: 95.760 - Low 14 Nov ‘24
  • SUP 3: 95.480 - Low Jan 11 2023 and a major support 

A bear cycle in Aussie 3-yr futures remains intact. The latest move lower reinforces the bear theme and the contract has traded through the December low. A deeper sell-off would refocus attention on 95.760, the 14 Nov ‘24 low. On the upside, a reversal higher would instead signal scope for an extension towards 96.360, the Dec 11 high. Further out, the key resistance is at 96.730, the Sep 17 high. 

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  • RES 3: 97.190 - High May 5 2023
  • RES 2: 96.730/932 - High Sep 17 / 76.4% of Mar-Nov ‘23 bear leg 
  • RES 1: 96.190/360 High Dec 31 / High Dec 11  
  • PRICE: 95.920 @ 20:13 GMT Jan 13
  • SUP 1: 95.830 - 1.000 proj of the Dec 11 - 20 - 31 price swing  
  • SUP 2: 95.760 - Low 14 Nov ‘24
  • SUP 3: 95.480 - Low Jan 11 2023 and a major support 

A bear cycle in Aussie 3-yr futures remains intact. The latest move lower reinforces the bear theme and the contract has traded through the December low. A deeper sell-off would refocus attention on 95.760, the 14 Nov ‘24 low. On the upside, a reversal higher would instead signal scope for an extension towards 96.360, the Dec 11 high. Further out, the key resistance is at 96.730, the Sep 17 high.