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(M3) Back to Neutral

AUSSIE 3-YEAR TECHS
  • RES 3: 97.921 - 1.0% 10-dma envelope
  • RES 2: 97.480 - High Apr 19 2022 (cont)
  • RES 1: 97.380 - High Mar 20 and the bull trigger
  • PRICE: 96.820 @ 15:24 BST May 17
  • SUP 1: 96.750/280 - Low May 2 / Low Feb 22 (cont)
  • SUP 2: 96.070 - Low Sep 27 and bear trigger (cont)
  • SUP 3: 95.960 - Low Jun 17 (cont)

Aussie 3yr futures slid sharply on the back of the unexpected RBA rate hike, prompting a new multi-week low of 96.750. Prices underwent a minor bounce off that mark, but have consolidated lower over the past few sessions. The recent 97.380 peak remains the high watermark. A break of this level would confirm a resumption of the uptrend that started late February.

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