Free Trial

Bears Focused On Channel Base.....>

AUSSIE-KIWI TECHS
AUSSIE-KIWI TECHS: Bears Focused On Channel Base
*RES 4: NZ$1.1291 - 2017 High Oct 25
*RES 3: NZ$1.1240 - High Oct 26
*RES 2: NZ$1.1170 - High Nov 2
*RES 1: NZ$1.1126 - High Nov 6
*PRICE: NZ$1.1070 @ 2030GMT
*SUP 1: NZ$1.1047 - Low Nov 3
*SUP 2: NZ$1.1025 - Previous key resistance now support
*SUP 3: NZ$1.1023 - 55-DMA
*SUP 4: NZ$1.1017 - Daily Bull channel base
*COMMENTARY: The closes below the 21-DMA (NZ$1.1099) leave the pair looking
heavy and focus having returned to NZ$1.1003-25 where the daily bull channel
base and 55-DMA are situated. Bears now need a close below NZ$1.1003 to end
bullish hopes and shift immediate focus to NZ$1.0900. Bulls still need a close
above NZ$1.1126 to ease bearish pressure and above NZ$1.1170 to shift focus back
to NZ$1.1240-91.

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.