(U0) Holding Above Its Key Support

• RES 3: 99.780 - High Apr 01 and bull trigger
• RES 3: 99.750 - High May 21 and 22
• RES 1: 99.730 - Congestion highs between Jun 15 - 22
• PRICE: 99.700 @ 16:28 BST Jul 30
• 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

The short-end of the Aussie bond space traded lower recently but has held above recent lows of 99.680, the Jul 14 low and a new low watermark. A break of this support would signal scope for an extension lower towards Fibonacci support at 99.667 and 99.597, both Fibonacci retracement levels. On the upside, the 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.