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Free Access(M2) Trend Needle Still Points South
- RES 3: 98.350 - High Mar 3
- RES 2: 97.975 - High Mar 16
- RES 1: 97.530 - High MAr 31
- PRICE: 97.245 @ 17:59 BST Apr 08
- SUP 1: 97.185 - Low Apr 6
- SUP 2: 97.030 - Low Sep 2014
- SUP 3: 96.843 - 0.5% 10-dma envelope
Aussie 3yr futures traded to a fresh cycle low on Apr 7, to once again confirm 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 97.030 - the Sep 2014 low. Moving average studies remain in bear mode highlighting the current trend direction. Key short-term resistance is at 97.530, the Mar 31 high.
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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.