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(M3) Trend Needle Points South

AUSSIE 3-YEAR TECHS
  • RES 3: 97.380 - High Mar 20 and a major resistance (cont)
  • RES 2: 97.190 - High May 5 (cont)
  • RES 1: 96.730 - High Feb 2
  • PRICE: 96.100 @ 20:41 BST Jun 15
  • SUP 1: 95.960 Low Jun 17 2022 low (cont)
  • SUP 2: 95.451 - 2.618 proj of the Mar 21 - May 2 - May 5 price swing
  • SUP 3: 95.281 - 1.0% 10-dma envelope

Aussie 3yr futures extended to new pullback lows of 95.994 this week so far. The cross has cleared the February lows on the continuation contract, and is approaching a key support at 95.960, the Jun 17 2022 low (cont). Clearance of this level would confirm a key bearish development and signal scope for a continuation lower towards 95.451, a Fibonacci projection. Initial key resistance is seen at 96.730, the Feb 2 high.

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