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(M2) Renewed Downside Pressure

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: 97.100 @ 17:15 GMT Mar 28
  • SUP 1: 97.005 - Low Mar 28
  • SUP 2: 96.850 - 0.5% 10-dma envelope
  • SUP 3: 96.970 - Low March 2017

Aussie 3yr futures extended losses Monday, hitting new cycle lows of 97.005 on the latest downtick. This puts prices through both the last levels of support layered at the 2018 lows as well as key support at 97.185 - this level marks the 50% retracement for the 2009 - 2020 range - and spells further losses going forward. March 2017 lows at 96.970 mark the next downside level.

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

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