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(U3) New Pullback Lows

AUSSIE 3-YEAR TECHS
  • RES 3: 97.380 - High Mar 20 and a major resistance (cont)
  • RES 2: 97.190 - High May 5 (cont)
  • RES 1: 96.730 - High Jun 2
  • PRICE: 96.060 @ 15:51 BST Aug 14
  • SUP 1: 95.730 - Low Jul 8
  • SUP 2: 95.451 - 2.618 proj of the Mar 21 - May 2 - May 5 price swing
  • SUP 3: 95.258 - 1.0% 10-dma envelope

Aussie 3yr futures faded further Monday, but nearby support remained untroubled to keep the outlook neutral. This further concludes the modest phase of weakness off the recent high and keeps markets on a more even keel. Further progress is needed before any challenge of first resistance of 96.730. Key support sits below at 95.960, the Jun 17 2022 low (cont). 95.451 represents the next downside level, a Fibonacci projection.

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

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