AUSSIE 3-YEAR TECHS: (M5) Within Range of Highs
- RES 3: 97.190 - High May 5 2023
- RES 2: 96.932 - 76.4% of Mar-Nov ‘23 bear leg
- RES 1: 96.860 - High Apr 07
- PRICE: 96.610 @ 15:55 GMT Apr 23
- SUP 1: 95.900 - Low Jan 14
- SUP 2: 95.760 - Low 14 Nov ‘24
- SUP 3: 95.480 - Low Jan 11 2023 and a major support
Aussie 3-yr futures continue to circle just below recent contract highs, having cleared resistance on the continuation contract. The rally has taken out resistance at 96.730, the Sep 17 ‘24 high. On the downside, any reversal lower from current levels would signal a resumption of a downtrend. A deeper sell-off would refocus attention on 95.760, the 14 Nov ‘24 low.
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
ASIA: Coming Up in Asian Markets Today
| Event | GMT | HKT | AEDT |
| South Korea Consumer Confidence | 21:00 | 5:00 | 8:00 |
| South Korea Retail Sales | 2:00 | 10:00 | 13:00 |
| South Korea Department Store Sales YoY | 2:00 | 10:00 | 13:00 |
| Discount Store Sales YoY | 2:00 | 10:00 | 13:00 |
| Taiwan Industrial Production | 8:00 | 16:00 | 19:00 |
| Hong Kong Exports YoY | 8:30 | 16:30 | 19:30 |
| Hong Kong Trade Balance | 8:30 | 16:30 | 19:30 |
| Hong Kong Imports YoY | 8:30 | 16:30 | 19:30 |
AUD: A$ Stronger On Hopes April Tariffs Will Be More Targeted
Aussie was part of a group of G10 currencies that were stronger against the greenback that also included CAD. Growing expectations of targeted tariffs on April 2 with the possibility of delays for autos and pharma boosted US equities and helped risk sensitive AUD. AUDUSD is up 0.2% to 0.6286 after briefly breaking above 0.6300 to a high of 0.6305. The USD index was supported by a better-than-expected services PMI leaving BBDXY moderately higher.
- There is a short-term bullish theme in AUDUSD with a break of key support at 0.6187 needed for the bear threat to resume. Initial support is at 0.6258, 21 March low. First resistance is 0.6391 and the bull trigger is at 0.6409, 21 February high.
- The yen underperformed on Monday as US yields and equities rose. This left AUDJPY up 1.2% to 94.71, the highest since March 19.
- With NZDUSD lower, AUDNZD is up 0.3% to 1.0974 after a high of 1.0989. AUDEUR rose 0.4% to 0.5819 following a peak of 0.5825, the strongest since 20 March. AUDGBP recovered from its 0.4854 intraday low to be up 0.2% to 0.4873.
- Equities were mixed with the S&P up 1.8% but Euro stoxx down 0.2%. Oil prices were stronger with Brent +1.3% to $73.10/bbl. Copper fell 0.6% and iron ore is around $102/t.
- RBA Assistant Governor (Financial System) Jones participates in a fireside chat at 1010 AEDT at the Australian Payments Plus Beyond Tomorrow event. The FY26 budget is presented around 1930 AEDT.
ASIA: Coming Up In Tuesday's Asia Pac Session
| 2310GMT | 0710HKT | 1010AEDT | RBA's Jones Fire-side Chat |
| 2350GMT | 0750HKT | 1050AEDT | BoJ Jan Minutes |
| 0135GMT | 0935HKT | 1235AEDT | New Zealand Bill Sale |
| 0200GMT | 1000HKT | 1300AEDT | South Korea Feb Retail Sales |
| 0530GMT | 1330HKT | 1630AEDT | Japan Feb Dept Sales |
