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(U0) Consolidating

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: 99.680 @ 16:08 BST Aug 26
  • SUP 1: 99.680 - Low Jul 14 / 22 / 28 and Aug 14
  • SUP 2: 99.667 - 23.6% retracement of the March - April Rally
  • SUP 3: 99.597 - 38.2% retracement of the Mar - Apr rally

Aussie 3yr futures recently recovered off 99.680, a level that has offered support on Jul 14, 22, 28, Aug 17 and 26. This signals potential for 99.725, Aug 4 high and the key hurdle for bulls at the 99.730 congestion highs, a level that has offered resistance between Jun 15 - 22. A break of this hurdle is required to highlight a strong bullish set-up while weakness below 99.680 would be regarded equally important from a bearish perspective.

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