Free Trial

Bears Need Close Below $0.8009 *RES....>

AUSSIE TECHS
AUSSIE TECHS: Bears Need Close Below $0.8009
*RES 4: $0.8376 - High Dec 11 2014
*RES 3: $0.8329 - Daily Bull channel top
*RES 2: $0.8295 - 2015 High Jan 15
*RES 1: $0.8163 - Monthly High May 14 2015
*PRICE: $0.8063 @ 0215GMT
*SUP 1: $0.8040 - Hourly support Sept 8 
*SUP 2: $0.8009 - Hourly support Sept 7 
*SUP 3: $0.7961 - Low Sept 6 
*SUP 4: $0.7958 - Daily Bull channel base
*COMMENTARY: Fresh 2mth highs O/N were followed up with fresh 2017 and 2+ year
highs in Asia as bulls now shift their focus to tests of $0.8163 last seen in
May 2015. Layers of support are accumulating with bears needing a close below
$0.8009 to ease immediate bullish pressure. Below $0.7920 is needed to hint at a
deeper correction targeting the 55-DMA ($0.7855). The Bollinger top ($0.8049)
remains the key concern for bulls.

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.