Free Trial

Bears Now Need Close Below $0.7324.......>

KIWI TECHS: Bears Now Need Close Below $0.7324
*RES 4: $0.7458 - Low July 28 now resistance 
*RES 3: $0.7438 - 2018 High Feb 16 
*RES 2: $0.7415 - Hourly support Feb 16 now resistance 
*RES 1: $0.7385 - High Feb 21
*PRICE: $0.7360 @ 2130GMT
*SUP 1: $0.7342 - Low Apr 11
*SUP 2: $0.7324 - High Apr 6 now support
*SUP 3: $0.7286 - 55-DMA
*SUP 4: $0.7241 - Low Apr 6
*COMMENTARY: The recovery from $0.7241 has resulted in focus having returned to
2018 highs. Overall bulls look for a close above $0.7458 to confirm focus on
$0.7558 2017 highs. The Bollinger top ($0.7364) is the key concern for bulls as
it limits follow through. Bears now need a close below $0.7324 to ease bullish
pressure and below $0.7241 to confirm focus back on $0.7130-93 where DMA and
WMAs are found.

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.