Free Trial

(U2) Edging Closer to Key Support

  • RES 3: 98.350 - High Mar 3
  • RES 2: 97.975 - High Mar 16
  • RES 1: 97.530 - High Mar 31
  • PRICE: 96.805 @ 15:21 BST Aug 12
  • SUP 1: 96.610 - Low Jun 22
  • SUP 2: 96.382 - 3.0% Lower Bollinger Band
  • SUP 3: 95.920 - Low Jun 16

Aussie 3yr futures edged lower into the weekly close. A key short-term support has been defined at 96.610, the Jul 22 low. The uptrend that started Jun 15, remains intact as long as price trades above 96.610. A resumption of gains would pave the way for strength towards 97.530, the Mar 31 high. On the downside, weakness below 96.610 would instead highlight a stronger reversal and a resumption of bearish activity.

MNI London Bureau | +44 203-865-3809 |

To read the full story



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.