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(Z0) Tests Above Resistance

AUSSIE 3-YEAR TECHS
  • RES 3: 99.698 - 0.764 proj of Aug 28 - Sep 7 rally from Sep 7low
  • RES 2: 99.694 - 0.618 proj of Aug 28 - Sep 7 rally from Sep 7 low
  • RES 1: 99.690 - High Sep 10
  • PRICE: 99.688 @ 17:25 BST Sep 9
  • SUP 1: 99.675 - Low Sep 7
  • SUP 2: 99.665 - Low Sep 2
  • SUP 3: 99.660 - Low Aug 28 and 31 and low Sep 1

Volatile price action in the Aussie 3yr on Sep 7 saw the contract touch a 99.675 low. This level has been defined as a key S/T support. With price pushing higher, the focus is on key resistance at 99.690, Sep 7 high that has today been breached. A clear break of this hurdle would confirm a resumption of the recent uptrend and open 99.694 and 99.698, both Fibonacci projection levels. Weakness below 99.675 would be bearish.

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