(U9) RBA Rate Cut Drains........>

AUSSIE 3-YEAR TECHS: (U9) RBA Rate Cut Drains Bulls

*RES 3: 99.097 - 1st Pivot Resistance 98.520-98.970

*RES 2: 99.076 - 123.6% Fib Projection (98.520-98.970)

*RES 1: 98.970 - All Time High

*PRICE: 98.910 @ 16:31 BST Jun 4

*SUP 1: 98.730 - 50-dma

*SUP 2: 98.684 - 23.6% Fib Retracement (97.775 - 98.965)

*SUP 3: 98.549 - 100-dma

After a positive start to the week, Aussie 3yr futures pulled back Tuesday as

the RBA rate cut came and went. A close below the Friday low is needed to shift

the outlook further in favour of bears, with the medium-term momentum measures

still pointing higher. The next upside targets hold at the 123.6% Fib projection

at 99.076 and 1st pivot resistance at 99.097. To shift the outlook negative, a

retracement below the 98.650 mark is needed, with further support located at the

100-dma at 98.549.