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(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: 95.700 @ 15:47 GMT Nov 02
  • 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 Thursday 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.

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