Free Trial

(Z9) RBA provides new upside....>

AUSSIE 3-YEAR TECHS
AUSSIE 3-YEAR TECHS: (Z9) RBA provides new upside impetus
*RES 3: 99.545 - 38.2% Extension of Sep 16 - Oct 1
*RES 2: 99.495 - 3.0% Upper Bollinger Band
*RES 1: 99.415 - All Time High
*PRICE: 99.405 @ 15:32 GMT Oct 1
*SUP 1: 99.286 - 50-dma
*SUP 2: 99.204 - 23.6% Apr 15 - Oct 1
*SUP 3: 99.155 - 76.4% Sep 16 - Oct 1
Aussie 3 year futures surged solidly on the back of the RBA rate cut,
demolishing well held support to hit all-time highs at 99.415. This pushes
upside targets higher to purely theoretical levels, with vol band resistance at
99.495 and Fib extensions at 99.545 the first targets. The 50-dma remains
support, which bears will need to close below before the outlook deteriorates.
For now, bulls are in control.

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.