Free Trial

AUSSIE-YEN TECHS: Topside Follow Through Lacking.....>

AUSSIE-YEN TECHS, AUSTRALIA VIEW
AUSSIE-YEN TECHS: Topside Follow Through Lacking
*RES 4: Y84.89 - High Feb 14 
*RES 3: Y84.54 - High Mar 13 
*RES 2: Y84.08 - High Apr 13 
*RES 1: Y83.48 - Bollinger band top
*PRICE: Y83.33 @ 2130GMT
*SUP 1: Y82.98 - Hourly resistance Apr 13 now support
*SUP 2: Y82.58 - Highs Apr 6 & 9 now support
*SUP 3: Y81.87 - Low Apr 6
*SUP 4: Y81.26 - Low Apr 4
*COMMENTARY: The aggressive rejection above the 55-DMA (Y83.57) & 100-WMA
(Y83.59) is less than ideal for bulls with daily studies at moderately O/B
levels. Bulls now need a close above Y84.06 to shift initial focus to
Y84.89-85.59 where the 100-DMA (Y85.14) is found. The Y82.58 support is key
today with bears needing a close below to ease bullish pressure and below Y81.87
to confirm a break of the 21-DMA and shift focus back to 2018 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.