Free Trial

Bears Need Close Below $0.7992 *RES....>

AUSSIE TECHS
AUSSIE TECHS: Bears Need Close Below $0.7992
*RES 4: $0.8295 - 2015 High Jan 15 
*RES 3: $0.8163 - Monthly High May 14 2015 
*RES 2: $0.8144 - Bollinger band top 
*RES 1: $0.8065 - 2017 High July 27
*PRICE: $0.8033 @ 0430GMT
*SUP 1: $0.8005 - Hourly resistance Aug 1 now support 
*SUP 2: $0.7992 - Hourly resistance July 31 now support 
*SUP 3: $0.7934 - Low July 28 
*SUP 4: $0.7905 - Hourly support July 25
*COMMENTARY: Bulls have regained the upper hand with the break back above
$0.8018 that sees immediate pressure back on 2017 highs. The 200-WMA comes in at
$0.8002 with a weekly close above needed to add support to the bullish case for
a move back to $0.8163-0.8295. O/B studies remain the key concern for bulls.
Bears now need a close below $0.7992 to ease bullish pressure and below $0.7934
to shift focus back to $0.7838-74.

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.