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(M3) Downside Momentum Accelerates

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: 96.160 @ 16:03 BST Jun 09
  • SUP 1: 96.106 - Low June 08
  • SUP 2: 96.070 - Low Sep 27 and bear trigger (cont)
  • SUP 3: 95.960 - Low Jun 17 (cont)

Aussie 3yr futures extended to new pullback lows of 96.106 Thursday, taking out the February lows for the continuation contract. The market has now printed lower lows for seven consecutive sessions, with momentum firmly pointed lower for now. 96.070 is the next downside level, the bear trigger coinciding with the Sep 27 low. To the upside, the recent 97.380 peak remains the high watermark.

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