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(Z2) Pierces Resistance

AUSSIE 3-YEAR TECHS
  • RES 3: 97.975 - High Mar 16
  • RES 2: 97.530 - High Mar 31
  • RES 1: 97.006/97.295 - 76.4% of Aug 3-Sep 27 move / High Aug 3
  • PRICE: 96.930 @ 19:55 GMT Dec 1
  • 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 clear break of resistance at 96.920, Oct 4 high, would be a bullish development and signal scope for a stronger recovery towards 97.295, the Aug 3 high. On the downside, first 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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