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(M9) Dovish Lowe Adds Support...>

AUSSIE 3-YEAR TECHS
AUSSIE 3-YEAR TECHS: (M9) Dovish Lowe Adds Support
*RES 3: 99.104 - 123.6% Fib Projection (97.775-98.850)
*RES 2: 98.933 - 1st Pivot Resistance 98.520-98.850
*RES 1: 98.850 - All Time High
*PRICE: 98.810 @ 16:50 BST May 21
*SUP 1: 98.660 - 50-dma
*SUP 2: 98.596 - 23.6% Fib Retracement (97.775 - 98.850)
*SUP 3: 98.482 - 100-dma
A somewhat dovish speech from RBA governor Lowe put some spring in bulls' step
Tuesday, but the rally stopped short of the all time high watermark, which still
sits at 98.850. Pivot resistance is eyed at 98.933 as the first target. The RSI
remains comfortably below overbought conditions, providing further impetus for
markets to load up on longs. To shift the outlook negative, a retracement below
the 98.573 mark is needed to weaken momentum.

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