Free Trial

Bears Need Close Below 100-WMA....>

AUSSIE-KIWI TECHS
AUSSIE-KIWI TECHS: Bears Need Close Below 100-WMA
*RES 4: NZ$1.0960 - Hourly resistance Jan 31
*RES 3: NZ$1.0921 - Hourly resistance Feb 1
*RES 2: NZ$1.0881 - High Feb 5
*RES 1: NZ$1.0820 - 55-WMA
*PRICE: NZ$1.0780 @ 2030GMT
*SUP 1: NZ$1.0744 - 2018 Low Feb 7
*SUP 2: NZ$1.0728 - 100-WMA
*SUP 3: NZ$1.0588 - Low July 31
*SUP 4: NZ$1.0491 - Low July 13
*COMMENTARY: Pressure on the 200-DMA took its toll this week with a sharp
sell-off back towards the 100-WMA. Follow through has been a little lacking with
bears needing a close below the 100-WMA to shift focus to NZ$1.0442-91 where the
LT rising TL is located. Layers of resistance are accumulating and weighing.
Bulls now need a close above NZ$1.0881 to ease bearish pressure and above
NZ$1.0921 to shift focus back to NZ$1.1073 2018 highs.

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.