Free Trial

Bears Still Need Close Below $0.7694...>

AUSSIE TECHS
AUSSIE TECHS: Bears Still Need Close Below $0.7694
*RES 4: $0.7872 - 55-DMA
*RES 3: $0.7840 - 21-DMA
*RES 2: $0.7819 - High Feb 28
*RES 1: $0.7787 - 200-DMA
*PRICE: $0.7760 @ 2030GMT
*SUP 1: $0.7710 - 2018 Low Mar 1 
*SUP 2: $0.7694 - High Dec 15 now support 
*SUP 3: $0.7622 - Low Dec 14 
*SUP 4: $0.7580 - High Dec 12 now support
*COMMENTARY: Key supports crumbled following the close below the 200-DMA but
follow through has been limited courtesy of the Bollinger band base ($0.7224).
Bears tentatively focus on $0.7500 Dec lows. In saying that, bulls look for a
close above $0.7819 to confirm breaks of 100 & 200-DMAs to ease bearish pressure
and above $0.7910 to initially target $0.7989. Bears continue to look for a
close below $0.7694 to add weight to their case.

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.