Free Trial

(U2) Approaching Key Support

AUSSIE 3-YEAR TECHS
  • RES 3: 97.975 - High Mar 16
  • RES 2: 97.530 - High Mar 31
  • RES 1: 97.295 - High Aug 2 / 3
  • PRICE: 96.650 @ 20:07 BST Aug 22
  • SUP 1: 96.610 - Low Jun 22
  • SUP 2: 96.578 - 3.0% Lower Bollinger Band
  • SUP 3: 95.920 - Low Jun 16

Aussie 3yr futures have continued to weaken with price approaching the first key support parameter at 96.610. The trend outlook remains bullish while price trades above this support. A break would be a bearish development, threatening a bullish case and instead would signal scope for a deeper pullback. A resumption of gains would pave the way for strength towards 97.295, the Mar 8 high and bull trigger.

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.