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(U2) Through 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: 96.660 @ 16:53 BST Aug 30
  • 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 recovered off the lows printed earlier this week, but still hold close to the recent lows. Price has shown below the first key support parameter at 96.610. This weakens the trend outlook for now and threatens a bullish case. Instead, last week’s price action signals 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.

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

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