Free Trial

Bears Target $0.7500-80 While..........>

AUSSIE TECHS
AUSSIE TECHS: Bears Target $0.7500-80 While 200-DMA Caps
*RES 4: $0.7842 - Alternating daily support/resistance
*RES 3: $0.7806 - 200-DMA
*RES 2: $0.7784 - High Mar 22
*RES 1: $0.7743 - High Mar 23
*PRICE: $0.7724 @ 0430GMT
*SUP 1: $0.7669 - 2018 Low Mar 21 
*SUP 2: $0.7658 - Bollinger band base 
*SUP 3: $0.7627 - 100-WMA, Low Dec 14 
*SUP 4: $0.7580 - High Dec 12 now support
*COMMENTARY: Bulls failed to capitalise on the bullish key day reversal with the
pair remaining capped around DMAs $0.7777-0.7806. Bulls look for a close above
the 200-DMA to pressure $0.7842-0.7916 where the falling TL off 2018 highs and
55-DMA are located. Above $0.7916 shifts focus to $0.8135-62. While the 200-DMA
caps bears remain focused on $0.7500-80 and now look for a close below $0.7669
to add weight to their case. The Bollinger base remains the key concern.

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.