Free Trial

Bears Need Close Below 100-DMA *RES....>

AUSSIE TECHS: Bears Need Close Below 100-DMA
*RES 4: $0.7912 - 55-DMA
*RES 3: $0.7907 - Low Sept 22 now resistance
*RES 2: $0.7876 - Hourly resistance Oct 15
*RES 1: $0.7862 - Hourly resistance Oct 16
*PRICE: $0.7846 @ 2000GMT
*SUP 1: $0.7807 - 100-DMA 
*SUP 2: $0.7765 - Low Oct 11 
*SUP 3: $0.7733 - Low Oct 6 
*SUP 4: $0.7712 - High June 30 now support
*COMMENTARY: With bulls now needing a close above the 55-DMA to end bearish
hopes and initially target $0.7986, bears take comfort in the pair remaining
capped ahead of the 55-DMA to start the new week. Bears continue to look for a
close below the 100-DMA to shift focus back to $0.7682-0.7733. Daily studies are
currently lingering around neutral levels and providing few clues.

To read the full story



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.