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(Z3) Multi-Month 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: 95.740 @ 15:54 BST Oct 19
  • SUP 1: 95.700 - Low Oct 19
  • SUP 2: 95.541 - 2.618 proj of the Mar 21 - May 2 - May 5 price swing
  • SUP 3: 95.300 - 3.00 proj of the Mar 21 - May 2 - May 5 price swing

Aussie 3yr futures traded lower into the Thursday close, with the run lower in global bond prices working its way into prices. The contract has now solidified the break below support at 95.970, the Jul 26 low (cont) and the base of a recent range. Clearance of this level strengthens a bearish theme and highlights potential for a move towards 95.541, 2.618 proj of the Mar 21 - May 2 - May 5 price swing. 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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