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(U3) Remains Below Its Recent High

  • 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: 96.130 @ 15:22 BST Aug 28
  • SUP 1: 95.730 - Low Jul 8
  • SUP 2: 95.541 - 2.618 proj of the Mar 21 - May 2 - May 5 price swing
  • SUP 3: 95.183 - 1.0% 10-dma envelope

Aussie 3yr futures continue to trade below 96.340, the Aug 9 high, however, nearby support at 95.970, the Jul 26 low, remains untroubled for now. A break of 96.340 resistance would highlight an important short-term break and signal scope for an extension to challenge resistance at 96.730. Key support sits below at 95.730, the Jul 7 and 10 low. Clearance of this level would confirm a resumption of the primary downtrend.

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