Free Trial

(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: 95.790 @ 16:02 GMT Nov 14
  • 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 erased losses posted off last week’s high as US CPI fell short of expectations. 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.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.