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(M3) Bullish Outlook

AUSSIE 3-YEAR TECHS
  • RES 3: 98.097 - 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: 97.130 @ 14:49 BST Apr 12
  • SUP 1: 96.780/280 - Low Mar 14 / 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 are firmer and remain above the 20-day EMA that intersects at 97.032. The recent 97.380 peak remains the high watermark for now. A break of this level would confirm a resumption of the uptrend that started late February. On the downside, a clear break below the 20-day EMA would instead threaten the bullish theme and signal scope for a deeper pullback towards 96.780, the Mar 14 low.

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