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(U3) Recovers Further Off 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: 96.120 @ 15:21 BST Jul 13
  • 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: 95.161 - 1.0% 10-dma envelope

Aussie 3yr futures bounced further Thursday, pressing prices to the best level since end-June. This cements a bounce off the recent lows of 95.730, however further progress is needed before any challenge of first resistance of 96.730. For now, the recovery looks corrective, with key support at 95.960, the Jun 17 2022 low (cont), having been cleared. 95.451 represents the next downside level, a Fibonacci projection.

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