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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: 97.265 @ 16:32 BST Apr 05
  • SUP 1: 97.250 - Low Mar 29
  • SUP 2: 96.850 - 0.5% 10-dma envelope
  • SUP 3: 97.030 - Low Sep 2014

Aussie 3yr futures fell sharply Tuesday on the back of both a hawkish turn from the RBA aswell as the Federal Reserve. This keeps the focus pointed lower for now. Prices have traded through both the last levels of support layered at the 2018 lows and have opened losses toward 97.030 - this level marks the Sep 2014 low - and would spell further losses on a break. Rallies remain corrective, with the focus still tilted lower for now.

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