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(U1) Maintains A Firmer Tone

  • RES 3: 99.860 - All time High Nov 3 and the bull trigger
  • RES 2: 99.710 - 100-dma (cont)
  • RES 1: 99.694 - High Jun 11
  • PRICE: 99.665 @ 20:16 BST Jul 15
  • 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 holding onto recent highs. 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 99.694, Jun 11 high A break would reinstate a bullish theme and expose the 100-dma on the continuation contract at 99.710. Key support is at 99.460, Jun 21, 22 low and 99.458, a Fibonacci retracement.

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