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(U1) Outlook Turns Positive

AUSSIE 3-YEAR TECHS
  • RES 3: 99.860 - All time High Nov 3 and the bull trigger
  • RES 2: 99.728 - 50-dma (cont)
  • RES 1: 99.694 - High Jun 11
  • PRICE: 99.660 @ 16:02 BST Jun 15
  • SUP 1: 99.565 - Low May 19
  • SUP 2: 99.560 - Low Apr 27
  • SUP 3: 99.552 - 38.2% 2020 Rally

Aussie 3y futures remain firm and inside the uptrend. This pushes the high watermark for the U1 contract up to 99.694, with the 50-dma on the continuation contract the next target at 99.728. Key short-term support has been defined at 99.565, May 19 low. A break would negate the longer-term developing bullish structure.

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

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