Free Trial

21-DMA Resistance Key Today *RES 4:....>

AUSSIE TECHS
AUSSIE TECHS: 21-DMA Resistance Key Today
*RES 4: $0.7773 - 55-DMA
*RES 3: $0.7730 - High Nov 2
*RES 2: $0.7693 - 200-DMA
*RES 1: $0.7633 - 21-DMA
*PRICE: $0.7595 @ 0220GMT
*SUP 1: $0.7589 - High Nov 21 now support 
*SUP 2: $0.7552 - Low Nov 22 
*SUP 3: $0.7532 - Low Nov 21 
*SUP 4: $0.7519 - Low June 9
*COMMENTARY: O/S daily studies and a lack of follow through below the Bollinger
base ($0.7544) resulted in a break of $0.7609 last week that saw pressure on the
21-DMA. Bulls still need a close above the 21-DMA to shift focus to the 200-DMA.
Initial support is noted at $0.7589 with a close below to ease pressure on the
21-DMA. Bears need a close below $0.7519 to reconfirm the bearish bias and below
the weekly bull channel base ($0.7461) to target $0.7319-65.

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.