Free Trial

(Z3) Bounces Off Lows

AUSSIE 3-YEAR TECHS
  • RES 3: 97.380 - High Mar 21 and a major resistance (cont)
  • RES 2: 97.190 - High May 5 (cont)
  • RES 1: 96.340/96.670 - High Aug 9 and Sep 4 / High Jun 2
  • PRICE: 95.650 @ 15:33 GMT Nov 01
  • SUP 1: 95.541 - 2.618 proj of the Mar 21 - May 2 - May 5 price swing
  • SUP 2: 95.480 - Low Oct 31
  • SUP 3: 95.300 - 3.00 proj of the Mar 21 - May 2 - May 5 price swing

Aussie 3yr futures bounced off new pullback lows into the Wednesday close having traded lower again Tuesday. Clearance previous support, however, strengthens a bearish theme and highlights potential for a sustained move towards 95.541, 2.618 proj of the Mar 21 - May 2 - May 5 price swing - a level pierced this week. Key resistance and the top of the range is at 96.340, Aug 9 / Sep 4 high. A break would be a bullish development.

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.