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(Z3) Heads North

  • 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: 96.012 @ 15:52 GMT Dec 11
  • SUP 1: 95.750 - Low Nov 27
  • 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 have resumed their short-term uptrend and this keeps the corrective rally intact, for now. Key resistance remains at the top of the range of 96.340, Aug 9 / Sep 4 high. A break would be a bullish development. Late November lows mark the first notable support at 95.750 (Nov 27). The longer prices stay above this level, the firmer the recovery off the November lows will become. If 95.750 gives way, this would open 95.480, Oct 31 low.

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