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(M2) Renewed Downside Pressure

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: 97.045 @ 16:39 BST Apr 29
  • SUP 1: 97.000 - Low Apr 22
  • SUP 2: 96.952 - 3.0% Lower Bollinger Band
  • SUP 3: 96.701 - 0.5% 10-dma envelope

Aussie 3yr futures remain pinned lower, putting prices again at cycle lows to test 97.000. 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 96.952 - the 3.0% lower Bollinger Band as well as 96.701. Key short-term resistance remains at 97.530, the Mar 31 high.

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