Free Trial

Bears Focused On $0.7500-80 *RES 4:....>

AUSSIE TECHS
AUSSIE TECHS: Bears Focused On $0.7500-80
*RES 4: $0.7833 - Fallling daily TL off 2018 high
*RES 3: $0.7809 - 200-DMA
*RES 2: $0.7784 - High Mar 22
*RES 1: $0.7718 - Hourly resistance Mar 27
*PRICE: $0.7690 @ 2130GMT
*SUP 1: $0.7630 - 100-WMA, Low Dec 14 
*SUP 2: $0.7611 - Bollinger band base 
*SUP 3: $0.7580 - High Dec 12 now support 
*SUP 4: $0.7579 - Weekly Bull channel base off 2016 low
*COMMENTARY: Hesitation ahead of $0.7784-0.7809 where key DMAs are situated
continues to hamper recovery efforts resulting in fresh 2018 lows. Bulls need a
close above $0.7718 to gain breathing room and above the 200-DMA to pressure
$0.7833-0.7916 where the falling TL off 2018 highs and 55-DMA are located. While
the 200-DMA caps bears remain focused on $0.7500-80 with fresh 2018 lows adding
weight to their case.

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.