Free Trial

(U1) Corrective Pullback Still In Play

AUSSIE 3-YEAR TECHS
  • RES 3: 99.927 - 1.00 proj of Jun 21 - Aug 3 - Aug 9 price swing
  • RES 2: 99.860 - All time High Nov 3 and the bull trigger
  • RES 1: 99.856 - High Jun 14
  • PRICE: 99.710 @ 19:39 BST Aug 27
  • SUP 1: 99.685 - 50-day EMA
  • SUP 2: 99.650 - Low Aug 9
  • SUP 3: 99.490 - Low Jul 6

Aussie 3y outlook remains bullish and the past week's sell-off is considered corrective. The contract recently cleared 99.735, highs between Jul 21 - Aug 3 and the break confirmed a resumption of the uptrend that started Jun 21. Attention is on 99.856 and levels not seen since June on the continuation chart. The all-time highs sit at 99.860. Key support is 99.650, the Aug 9 low. A break is required to suggest scope for a much deeper retracement.

To read the full story

Close

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.