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(Z2) Bumped Higher

  • RES 3: 97.975 - High Mar 16
  • RES 2: 97.530 - High Mar 31
  • RES 1: 96.920/97.295 - High Oct 4 / Aug 3
  • PRICE: 96.700 @ 14:31 BST Oct 4
  • SUP 1: 96.115 - Low Sep 26
  • SUP 2: 95.960 - Low Jun 17
  • SUP 3: 95.581 - 1.0% 10-dma envelope

A smaller-than-expected RBA rate hike bumped prices higher Tuesday, putting prices briefly at a new high of 96.920. The works against the previous bearish threat in Aussie 3yr futures and brings As such, focus returns higher, we next major resistance at 97.295 - the Aug 3 high. Any return lower would initially target 96.070 ahead of 95.960, the Jun 17 low and key support.

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