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Free Access55-DMA & $0.7050 Levels Remain Key.......>
KIWI TECHS: 55-DMA & $0.7050 Levels Remain Key
*RES 4: $0.7200 - High Oct 17
*RES 3: $0.7117 - Low Oct 18 now resistance
*RES 2: $0.7102 - 200-DMA
*RES 1: $0.7050 - Low Oct 9 now resistance
*PRICE: $0.6997 @ 2030GMT
*SUP 1: $0.6979 - Monthly High Nov 9 now support
*SUP 2: $0.6957 - 55-DMA
*SUP 3: $0.6923 - Hourly support Dec 12
*SUP 4: $0.6901 - Low Dec 12
*COMMENTARY: The bounce from ahead of last week's low has resulted in closes
above the 55-DMA with immediate focus shifting to the $0.7050 resistance. Bulls
need a close above $0.7050 to target $0.7200-25 although 100 ($0.7106) & 200
($0.7102) DMAs may slow the move. Bears look for a close below the 55-DMA to
ease renewed bullish pressure and below $0.6901 to reconfirm focus on 2017 lows
and the weekly bear channel base ($0.6709).
To read the full story
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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.