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(Z2) Remains Below Resistance

  • 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: 96.730 @ 19:59 GMT Nov 29
  • 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 continue to trade inside its range and above nearby support. A break higher and a move above 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 resumption of weakness would expose key support at 96.070, Sep 27 low. Clearance of this level and 95.960, the Jun 17 low, would resume the broader downtrend.

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