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Free Access(M9) Stalls Below Cycle Highs...>
AUSSIE 3-YEAR TECHS: (M9) Stalls Below Cycle Highs
*RES 3: 98.881 - 123.6% Fib Projection (97.775-98.670)
*RES 2: 98.787 - 1st Pivot Resistance 98.270-98.670
*RES 1: 98.670 - 2019 High
*PRICE: 98.640 @ 15:35 GMT Mar26
*SUP 1: 98.370 - 50-dma
*SUP 3: 97.270 - Mar4 Low
*SUP 2: 98.196 - 100-dma
Tuesday trade was inconsequential, leaving both the bullish and bearish targets
intact for now. Having comfortably broken and closed above uptrendline
resistance in mid-March, 3yr futures continue to look firm over the medium-term,
with historical resistance levels now entirely absent above 98.670. This
switches focus to the 1st pivot resistance line kicking in at 98.787 ahead of
the 123.6% Fib projection at 98.881. 50-dma developments continue to look
bullish, with first support kicking in at 98.370. Any fall below here opens Mar4
lows at 98.27.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.