Free Trial

Above 21-DMA To Ease Bearish...........>

AUSSIE TECHS
AUSSIE TECHS: Above 21-DMA To Ease Bearish Pressure
*RES 4: $0.7874 - 55-DMA
*RES 3: $0.7836 - 21-DMA
*RES 2: $0.7819 - High Feb 28
*RES 1: $0.7788 - 200-DMA
*PRICE: $0.7782 @ 0240GMT
*SUP 1: $0.7753 - Hourly support Mar 5 
*SUP 2: $0.7710 - 2018 Low Mar 1 
*SUP 3: $0.7694 - High Dec 15 now support 
*SUP 4: $0.7622 - Low Dec 14
*COMMENTARY: The failure to trouble $0.7694 and the lack of follow through on
approach remains a concern for bears and sees the pair now flirting with the
200-DMA. Bulls now look for a close above the 21-DMA to ease bearish pressure
and above $0.7910 to initially target $0.7989. Correcting O/S studies add
support to the bullish case. Bears now need a close below $0.7694 to confirm
focus on tests of $0.7500 Dec 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.