Free Trial

(M2) RBA Presses Prices Further

AUSSIE 3-YEAR TECHS
  • RES 3: 98.350 - High Mar 3
  • RES 2: 97.975 - High Mar 16
  • RES 1: 97.530 - High Mar 31
  • PRICE: 96.785 @ 16:38 BST May 4
  • SUP 1: 96.675 - Low May 4
  • SUP 2: 96.612 - 3.0% Lower Bollinger Band
  • SUP 3: 96.548 - 0.5% 10-dma envelope

Aussie 3yr futures remain pinned lower, with the RBA rate decision earlier in the week putting prices again at cycle lows of 96.675. This confirms an extension of the downtrend and the bearish price sequence of lower lows and lower highs. This keeps the focus pointed lower for now and attention is on 96.612 - the 3.0% lower Bollinger Band as well as 96.548. Key short-term resistance remains at 97.530, the Mar 31 high.

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

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.