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(Z1) Off Recent Highs

AUSSIE 3-YEAR TECHS
  • RES 3: 99.927 - All time High Nov 3 and the bull trigger (cont)
  • RES 2: 99.860 - High Jun 14 (cont)
  • RES 1: 99.795 - High Aug 20 cont)
  • PRICE: 99.645 @ 15:27 BST Sep 21
  • SUP 1: 99.595 - Low Sep 20
  • SUP 2: 99.555 - Low Sep 8 and a bear trigger
  • SUP 3: 99.490 - Low Jul 6 (cont)

Aussie 3y futures are lower and a S/T bearish condition dominates as the contract pulls away from recent highs. Attention is on 99.555, Sep 9 low. A break would suggest scope for a deeper pullback. The recent high of 99.678 on Sep 15 marks the bull trigger. A breach would instead confirm a resumption of bullish activity and refocus attention on 99.795, Aug 20 high (cont) and 99.856, Jun 14 high (cont). The all-time highs is 99.860.

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