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(U2) Mid-Range to Start Off New Week

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: 96.794 @ 15:22 BST Sep 12
  • SUP 1: 96.526 - 2.0% Lower Bollinger Band
  • SUP 2: 96.520 - Low Aug 30
  • SUP 3: 95.920 - Low Jun 16

Aussie 3yr futures hold the bulk of the recent recovery to start off the new week, still seeing some support from a dovish appearance from RBA’s Lowe. A resumption of gains would pave the way for strength towards 97.295, the Mar 8 high and bull trigger. For the downside to take hold going forward, price has shown below the first key support parameter at 96.610. This weakens the trend outlook for now and threatens a bullish case.

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

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