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(Z3) Just Below Last Week’s Highs

  • 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: 95.920 @ 16:17 GMT Nov 30
  • 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 traded stronger again Wednesday, further erasing much of the downside suffered late last week. This keeps prices just below last week’s recovery highs and keeps the recent corrective rally intact. Key resistance remains at the top of the range of 96.340, Aug 9 / Sep 4 high. A break would be a bullish development. Last week’s lows mark the first notable support at 95.750, but the longer prices stay above, the firmer the recovery off November lows will become.

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