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(M2) Correction Extends


Late Session Rebound


(M2) Corrective Cycle Remains In Play

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(Z0) Remains Strong on RBA Support

  • RES 3: 100.00 - Psychological round number
  • RES 2: 99.886 - 3.0% Upper Bollinger Band
  • RES 1: 99.860 - All time High Nov 3 and the bull trigger
  • PRICE: 99.810 @ 16:09 BST Nov 11
  • SUP 1: 99.760 - Low Oct 1 and 2
  • SUP 2: 99.705 - Low Sep 18, 21 and 22
  • SUP 3: 99.675 - Low Sep 7 and key support

Aussie 3yr futures got further support last week as the RBA cut their 3-yr yield target, boosting prices to new alltime highs up at 99.860. This further confirms bullish trend conditions, leaving the downside argument particularly fractious. A break of 99.860, the Nov 3 high opens 99.889. Support is at 99.760

MNI London Bureau | +44 203-865-3809 |
MNI London Bureau | +44 203-865-3809 |

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