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(M4) Reversal Into Close

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: 95.880 @ 16:26 BST Apr 25
  • SUP 1: 95.870 - Low Apr 25
  • 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 reversed lower into the Thursday close on the back of the solid Australia CPI release earlier this week, tilting the near-term bias back to negative for now. Nonetheless, prices remain above the mid-February lows. A resumption of the prior 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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  • 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: 95.880 @ 16:26 BST Apr 25
  • SUP 1: 95.870 - Low Apr 25
  • 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 reversed lower into the Thursday close on the back of the solid Australia CPI release earlier this week, tilting the near-term bias back to negative for now. Nonetheless, prices remain above the mid-February lows. A resumption of the prior 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.