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(U4) Trend Needle Continues To Point North

AUSSIE 3-YEAR TECHS
  • RES 3: 96.380 - High Mar 21 2023
  • RES 2: 97.190 - High May 5 2023
  • RES 1: 96.932 - 76.4% retracement of the Mar - Nov 2023 bear leg
  • PRICE: 96.540 @ 17:59 BST Aug 26
  • SUP 1: 95.940 - Low Jul 25
  • SUP 2: 95.820 - Low Jun 20
  • SUP 3: 95.480 - Low Jan 11 2023 and a major support

Aussie 3yr futures continue to trade below its most recent trend highs. Recent weakness is considered corrective and the pullback has allowed an oversold condition to unwind. Recent strong gains reinforce a bullish condition and signal scope for an extension towards 96.932, a Fibonacci retracement point on the continuation chart. Initial firm support lies at 95.940, the Jul 25 low.

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