November 30, 2022 20:12 GMT
(Z2) Approaching Resistance
AUSSIE 3-YEAR TECHS
- RES 3: 97.975 - High Mar 16
- RES 2: 97.530 - High Mar 31
- RES 1: 96.920/97.295 - High Oct 4 and the bull trigger / High Aug 3
- PRICE: 96.860 @ 19:55 GMT Nov 30
- SUP 1: 96.410/070 - Low Nov 8 / Low Sep 27 and bear trigger
- SUP 2: 95.960 - Low Jun 17
- SUP 3: 95.410 - 1.0% 10-dma envelope
Aussie 3yr futures have broken out of the recent range and the contract is firmer. A break of resistance at 96.920, the Oct 4 high, would be a bullish development and signal potential for a stronger recovery towards 97.295, the Aug 3 high. On the downside, a reversal lower would expose key support at 96.070, Sep 27 low and a break of 95.960, the Jun 17 low, would resume the broader downtrend. Initial key support is at 96.410, the Nov 8 low.
141 words