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(M2) Fresh Cycle Lows

AUSSIE 3-YEAR TECHS
  • 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: 97.750 @ 16:26 GMT Mar 21
  • SUP 1: 97.730 - Low Mar 21
  • SUP 2: 97.700 - Low May 2018
  • SUP 3: 97.411 - 0.5% 10-dma envelope

Downside dominates in Aussie 3yr futures, with the futures roll now complete and working further in favour of downside. This puts the contract at fresh cycle lows of 97.730, well through previous levels of support to open levels not seen since late 2018. The May 2018 low crosses at 97.700, marking the next clear downside level ahead of vol band support at 97.411.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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