Free Trial

(Z2) Fading Gains

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 / Aug 3
  • PRICE: 96.445 @ 14:32 BST Oct 6
  • 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 early last week, putting prices briefly at a new high of 96.920. This swiftly reversed into the weekly close, with a better-than-expected NFP release adding extra weight. Next major resistance remains at 97.295 - the Aug 3 high. Any further weakness would initially target 96.070 ahead of 95.960, the Jun 17 low and key support.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.