March 16, 2023 22:45 GMT
(M3) Bullish Break
AUSSIE 3-YEAR TECHS
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- RES 3: 97.530 - High Mar 31 (cont)
- RES 2: 97.295 - High Aug 3 (cont)
- RES 1: 97.260 - High Mar 15
- PRICE: 97.080 @ 16:19 GMT Mar 16
- SUP 1: 96.280 - Low Feb 22
- SUP 2: 96.070 - Low Sep 27 and bear trigger (cont)
- SUP 3: 95.960 - Low Jun 17 (cont)
The bounce across Aussie 3yr futures accelerated Wednesday as global rate hike expectations retraced and boosted short-term bonds. A new multi-month high at 97.260 is the high watermark for now, with the Aug 3 high on the continuation contract just beyond at 97.295. Any further weakness will signal scope for a decline towards 96.070, the Sep 27 low on the continuation chart. This level is a key support and bear trigger.
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