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(U0) Back to Upper End of Range

AUSSIE 3-YEAR TECHS
  • RES 3: 99.780 - High Apr 01 and bull trigger
  • RES 2: 99.750 - High May 21 and 22
  • RES 1: 99.730 - Congestion highs between Jun 15 - 22
  • PRICE: 99.720 @ 16:28 BST Aug 4
  • SUP 1: 99.680 - Low Jun 14 / Jul 22
  • SUP 2: 99.667 - 23.6% retracement of the March - April Rally
  • SUP 3: 99.597 - 38.2% retracement of the Mar - Apr rally

After trading lower in recent weeks, 3yr futures got a decent boost on the RBA announcement that they would resume bond purchases to further control the front-end of the yield curve. This boosted prices back to 99.725 to dispel any fade in prices. Key hurdle for bulls remains the 99.730 congestion, highs between Jun 15 - 22. A break would instead open 99.780, Apr 1 high further out.

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