(H9) Respects Range Ahead of....>

AUSSIE 3-YEAR TECHS: (H9) Respects Range Ahead of RBA

*RES 3: 98.458 - 76.4% 98.700-97.675

*RES 2: 98.450 - High Nov 9 2016

*RES 1: 98.370 - Jan3 2019 High

*PRICE: 98.260 @ 15:53 GMT Feb5

*SUP 1: 98.012 - 100-dma

*SUP 2: 97.753 - Trendline Support

*SUP 3: 97.727 - 50% 96.754-98.700

The RBA rate decision provided some headwinds for bears, but the fallout was

short-lived, with 3yr futures returning to the recent range shortly after the

decision. This cements the view that the near-term bias remains negative. A

correction back below the 98.20 level is required to extend any downtrend,

opening support at the 50- and 100-dmas at 98.137 and 98.009 respectively. The

medium- to longer-term trend, however, remains bullish and a recovery and close

back above 98.37 would open the Nov 9 high 2016 at 98.450.