Free Trial

$0.7640 Key This Week *RES 4:..........>

AUSSIE TECHS
AUSSIE TECHS: $0.7640 Key This Week
*RES 4: $0.7640 - Monthly Low Mar 29 now resistance
*RES 3: $0.7633 - Falling daily TL off 2018 high
*RES 2: $0.7616 - 55-DMA
*RES 1: $0.7609 - Bollinger band top
*PRICE: $0.7597 @ 0250GMT
*SUP 1: $0.7533 - 21-DMA 
*SUP 2: $0.7513 - Low June 1 
*SUP 3: $0.7474 - Low May 30 
*SUP 4: $0.7457 - Bollinger band base
*COMMENTARY: Bears failed to capitalise on the close below the 21-DMA with
Wednesday's rally and close above the 21-DMA returning focus to $0.7593-0.7640
where the 55-DMA and falling daily TL are noted. Bulls now need a close above
$0.7540 to confirm a break of the bear channel top, ending bearish hopes and
shifting focus to $0.7735-0.7842. Bears now look for a close below $0.7513 to
gain breathing room and add weight to the case for a test of 2018 lows.

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.