Free Trial

Above 21-DMA To Target.................>

AUSSIE TECHS
AUSSIE TECHS: Above 21-DMA To Target $0.7722-0.7842
*RES 4: $0.7702 - Hourly resistance Apr 20
*RES 3: $0.7649 - 21-DMA
*RES 2: $0.7620 - High Apr 24
*RES 1: $0.7590 - Hourly resistance Apr 25
*PRICE: $0.7548 @ 0250GMT
*SUP 1: $0.7524 - Hourly support May 3 
*SUP 2: $0.7470 - 2018 Low May 1 
*SUP 3: $0.7368 - Monthly Low June 1 2017 
*SUP 4: $0.7326 - Monthly Low May 9 2017
*COMMENTARY: Bears have failed to capitalise on fresh 2018 lows with correcting
O/S studies providing the impetus for a correction. Bulls look for a close above
$0.7546 today to gain breathing room and above the 21-DMA ($0.7649) to shift
initial focus to $0.7722-0.7842 where 55, 100 & 200-DMAs are found. While the
21-DMA caps bears retain focus on $0.7326 June 2017 monthly lows. Bears look for
a close below $0.7524 to add to confidence.

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.