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(M1) Bearish Focus

  • RES 3: 100.00 - Psychological round number
  • RES 2: 99.860 - All time High Nov 3 and the bull trigger
  • RES 1: 99.835/840 - High Dec 23 / Nov 23/24 high
  • PRICE: 99.705 @ 16:14 GMT Mar 31
  • SUP 1: 99.668 1.0% Lower Bollinger Band
  • SUP 2: 99.585 - Low Mar 5
  • SUP 3: 99.552 - 38.2% 2020 Rally

Aussie 3y futures continue to trade between 99.670-770. Recent weakness had tilted the outlook bearish, with 2021 lows printed at 99.585. Since then, prices have recuperated - likely a correction. Markets are yet to counter the negative outlook, raising the risk of a more protracted downturn on any renewed weakness. To the upside, a break of 99.835, Dec 23 high would trigger gains and set the scene for a climb towards 99.840, Nov 23/24 high.

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