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(M2) Downside Dominates

  • RES 3: 99.795 - High Aug 20 (cont)
  • RES 2: 99.300 - High Oct 14/15
  • RES 1: 98.675/920 - High Feb 1 / High Dec 29 and key resistance
  • PRICE: 97.850 @ 16:47 GMT Mar 17
  • SUP 1: 97.840 - Low Mar 16
  • SUP 2: 97.775 - Low November 2018
  • SUP 3: 97.676 - 0.5% 10-dma envelope

Downside dominates in Aussie 3yr futures, with the futures roll doing little to change the negative bias. This puts the contract at fresh cycle lows, well through previous levels of support to open levels not seen since late 2018. The November 2018 low crosses at 97.775, marking the next clear downside level ahead of vol band support at 97.676.

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