Free Trial

Above $0.7842 To End Bearish Hopes.....>

AUSSIE TECHS
AUSSIE TECHS: Above $0.7842 To End Bearish Hopes
*RES 4: $0.7842 - Alternating daily support/resistance
*RES 3: $0.7813 - 200-DMA, 55-DMA
*RES 2: $0.7784 - High Mar 22
*RES 1: $0.7787 - Falling daily TL off 2018 high
*PRICE: $0.7753 @ 0430GMT
*SUP 1: $0.7709 - 21-DMA 
*SUP 2: $0.7691 - Hourly support Apr 10 
*SUP 3: $0.7635 - 100-WMA 
*SUP 4: $0.7630 - Low Dec 14
*COMMENTARY: Bulls take comfort as the pair gains traction above the 21-DMA with
focus on $0.7781-0.7842 where key WMA and DMAs and the falling TL off 2018 highs
are found. Bulls need a close above $0.7842 to end bearish hopes and shift
initial focus to $0.7916 and overall focus back to $0.8135-62. Bears need a
close below the 21-DMA to ease bullish pressure and below $0.7630 to confirm a
break of the 100-WMA and reconfirm focus on $0.7500-86.

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.