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(M1) Probes The Key Range Top

AUSSIE 3-YEAR TECHS
  • RES 3: 99.860 - All time High Nov 3 and the bull trigger
  • RES 2: 99.835/840 - High Dec 23 / Nov 23/24 high
  • RES 1: 99.796 - High Mar 3 (cont)
  • PRICE: 99.770 @ 19:08 BST May 21
  • SUP 1: 99.670 - Low Mar 15
  • SUP 2: 99.585 - Low Mar 5
  • SUP 3: 99.552 - 38.2% 2020 Rally

Aussie 3y futures are firmer following the rally on May 21. The key development has been the test of key resistance and the top of the broad range at 99.770, Mar 24 high. A clear breach would confirm a range breakout and a resumption of the uptrend that started Mar 5. On the downside, a key short-term support has been defined at 99.730, May 20 low. A break would negate the developing bullish structure.

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