Free Trial

21-DMA Capping, NZ$1.1139.........>

AUSSIE-KIWI TECHS
AUSSIE-KIWI TECHS: 21-DMA Capping, NZ$1.1139 Resistance Remains Key
*RES 4: NZ$1.1240 - High Oct 26
*RES 3: NZ$1.1185 - High Nov 1
*RES 2: NZ$1.1139 - High Nov 14
*RES 1: NZ$1.1089 - 21-DMA
*PRICE: NZ$1.1067 @ 2030GMT
*SUP 1: NZ$1.1031 - 55-DMA
*SUP 2: NZ$1.0984 - Low Nov 15
*SUP 3: NZ$1.0928 - 100-DMA
*SUP 4: NZ$1.0821 - Low Sept 21
*COMMENTARY: The break of the NZ$1.0992 support lacked follow through with the
pair failing to gain traction below the 55-DMA in recent weeks. Bears look for a
close below NZ$1.0984 to confirm a bearish bias and initially target the
100-DMA. The NZ$1.1139 resistance remains key. Bulls need a close above this
level to confirm a break of the 21-DMA, ending bearish hopes and shifting focus
back to tests of 2017 highs (NZ$1.1290).

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.