April 23, 2024 21:45 GMT
(M4) Bullish Theme Falters
AUSSIE 3-YEAR TECHS
- RES 3: 97.380 - High Mar 21 and a major resistance (cont)
- RES 2: 97.190 - High May 5 (cont)
- RES 1: 96.540/670 - High Feb 2 / High Jun 2 (cont)
- PRICE: 96.150 @ 16:04 BST Apr 23
- SUP 1: 96.060 - Low Apr 17
- SUP 2: 95.750/480 - Low Nov 27 / Low Oct 31
- SUP 3: 95.300 - 3.00 proj of the Mar 21 - May 2 - May 5 price swing
Aussie 3yr futures trend conditions remain bullish despite last week’s weakness, with prices remaining above the mid-February lows. An extension of the current bull cycle would pave the way for a climb towards the Feb 2 high of 96.540 where a break would open 96.670, the Jun 2 2023 high. The Jan 18 - 22 low at 96.120 has recently been pierced, however, short-term weakness is considered corrective above 95.750, the Nov 27 low.
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