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(Z3) Stable Above 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: 95.770 @ 16:09 GMT Nov 09
  • 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 further Tuesday following the RBA rate decision. This extends the corrective rally to narrow the gap with key resistance at the top of the range of 96.340, Aug 9 / Sep 4 high. A break would be a bullish development. Clearance of previous support in recent weeks, however, strengthens a M/T bearish theme and highlights the potential for a sustained move towards 95.541, 2.618 proj of the Mar 21 - May 2 - May 5 price swing.

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