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(M3) Remains Above Recent Lows

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: 97.080 @ 18:51 BST Apr 28
  • 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)

April weakness across Aussie 3-y futures has stabilised somewhat and the contract remains above recent lows and is trading above the 20-day EMA of 96.996. Nonetheless, 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, the Mar 14 lows at 96.780 is the first support to watch ahead of the continuation contract Feb 22 low of 96.280.

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