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(U1) Resumes Incline

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: 99.728 @ 14:35 BST Sep 10
  • SUP 1: 99.675 - Low Sep 7
  • SUP 2: 99.650 - Low Aug 9
  • SUP 3: 99.490 - Low Jul 6

Aussie 3y futures outlook remains bullish as the recent bout of weakness was confirmed to be corrective. The strong rally Aug 30 signals the end of the recent correction lower. In pattern terms, the reversal on this day is a bullish engulfing candle. Scope is seen for a move beyond 99.795, Aug 20 high to open 99.856, levels not seen since June on the continuation chart. The all-time highs sit at 99.860. Key support is 99.650, Aug 9 low.

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