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(M3) Bearish Outlook Firms

  • RES 3: 97.380 - High Mar 20 and a major resistance (cont)
  • RES 2: 97.190 - High May 5 (cont)
  • RES 1: 96.730 - High Jun 2
  • PRICE: 95.890 @ 15:45 BST Jul 11
  • SUP 1: 95.730 - Low Jul 8
  • SUP 2: 95.451 - 2.618 proj of the Mar 21 - May 2 - May 5 price swing
  • SUP 3: 95.161 - 1.0% 10-dma envelope

Aussie 3yr futures traded lower again Friday, but bounced off the lowest levels ahead of the Friday close. Key support at 95.960, the Jun 17 2022 low (cont), has been cleared, marking a significant bearish break over the medium-term. 95.451 represents the next downside level, a Fibonacci projection. Initial key resistance is seen at 96.730, the Jun 2 high.

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