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(M2) Multiyear 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: 97.445 @ 15:55 GMT Mar 25
  • SUP 1: 97.425 - Low Mar 25
  • SUP 2: 97.355 - 0.5% 10-dma envelope
  • SUP 3: 97.185 - 50% 2009 - 2020 range

Aussie 3yr futures printed a fresh contract low Thursday, printing down at 97.425. This puts prices through the last levels of support layered at the 2018 lows. Prices are now at late-2014 levels, narrowing the gap with vol band support that undercuts today at 97.355 and points lower. On the longer-term charts, major support is scant until 97.185 - this level marks the 50% retracement for the 2009 - 2020 range.

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

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