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(Z2) Holding Recent Gains

  • RES 3: 97.975 - High Mar 16
  • RES 2: 97.530 - High Mar 31
  • RES 1: 97.295 - High Aug 3
  • PRICE: 96.928 @ 16:15 GMT Dec 12
  • SUP 1: 96.650 Low Nov 24
  • SUP 2: 96.410/070 - Low Nov 8 / Low Sep 27 and bear trigger
  • SUP 3: 95.960 - Low Jun 17

Aussie 3yr futures have broken out of the recent range and the contract is firmer. The clear break of resistance at 96.920, Oct 4 high, is a bullish development and signals scope for a stronger recovery towards 97.295, the Aug 3 high. On the downside, a key support has been defined at 96.410, the Nov 8 low. A reversal lower and a break of this level would expose major support at 96.070, Sep 27 low and 95.960, the Jun 17 low.

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