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(Z1) Resumes Weakness

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: 99.195 @ 15:28 BST Oct 15
  • SUP 1: 99.185 - Low Oct 15
  • SUP 2: 99.064 - 38.2% 2018 - 2020 Range
  • SUP 3: 99.055 - Low Dec 31 2019

The front end of the Aussie curve extended losses Friday, printing a new cycle low at 99.185. This marks first support. A break below exposes downside targets at 99.064 and 99.055. These mark the 38.2% retracement of the 2018-2020 range on the continuation contract as well as the Dec31 2019 low. To re-assert any strength, markets need to retake the 50-dma at 99.639.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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