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(U1) Edging Off Highs

AUSSIE 3-YEAR TECHS
  • RES 3: 99.860 - All time High Nov 3 and the bull trigger
  • RES 2: 99.750 - 200-dma (cont)
  • RES 1: 99.735 - High Jul 20
  • PRICE: 99.660 @ 18:21 BST Aug 08
  • SUP 1: 99.460 - Low Jun 21, 22
  • SUP 3: 99.458 - 50% 2020 Rally
  • SUP 3: 98.611 - 1.0% 10-dma Envelope

Aussie 3y futures are trading off the recent highs, but remain firm medium-term. Near-term conditions appear constructive for bulls following the recent recovery from 99.490, Jul 6 low. Attention is on the high watermark for the U1 contract at 99.735, Jul 20 high A break would reinstate a bullish theme and expose the 200-dma on the continuation contract at 99.750. Key support is at 99.460, Jun 21, 22 low and 99.458, a Fibonacci retracement.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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