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AUSSIE 3-YEAR TECHS: (H5) Corrective Bounce

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: 96.260/360 High Jan 29 / High Dec 11  
  • PRICE: 96.220 @ 16:11 GMT Jan 30
  • 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 and short-term gains are considered corrective. On the upside, a clear reversal higher would signal scope for an extension towards 96.360, the Dec 11 high. The recent move down 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.

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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: 96.260/360 High Jan 29 / High Dec 11  
  • PRICE: 96.220 @ 16:11 GMT Jan 30
  • 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 and short-term gains are considered corrective. On the upside, a clear reversal higher would signal scope for an extension towards 96.360, the Dec 11 high. The recent move down 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.