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(M2) Close to Cycle Lows

  • RES 3: 97.870 - High Mar 3
  • RES 2: 97.455 - High Mar 18
  • RES 1: 97.185 - High Apr 5
  • PRICE: 96.600 @ 16:26 BST May 13
  • SUP 1 96.330 - Low May 9
  • SUP 2: 96.182 - 3.0% Lower Bollinger Band
  • SUP 3: 96.133 - 0.5% 10-dma envelope

Aussie 10y futures returned to cycle lows to begin last week, accelerating the downside theme. The move lower exposes next support posted at the 3.0% Lower Bollinger Band at 96.182, ahead of a stronger area of support at the 0.5% 10-dma envelope - which crosses at 96.133 currently. Initial resistance is at a recent high of 97.185 on Apr 5.

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