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(M3) New May Lows

  • 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: 96.630 @ 15:46 BST May 30
  • SUP 1: 96.500/280 - Low May 25 / 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 printed another low Thursday, slipping further below the RBA-inspired 96.750 pullback low printed earlier in the month. The move lower opens losses toward the Feb 22 low on the continuation contract at 96.280 for direction. To the upside, 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.

MNI London Bureau | +44 203-865-3809 |

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