Free Trial

Bears Targeting $0.6779-0.6815 *RES 4:...>

KIWI TECHS
KIWI TECHS: Bears Targeting $0.6779-0.6815
*RES 4: $0.7102 - Hourly support Apr 25 now resistance 
*RES 3: $0.7052 - High May 4 
*RES 2: $0.6996 - High May 9 
*RES 1: $0.6960 - 21-DMA
*PRICE: $0.6924 @ 2130GMT
*SUP 1: $0.6882 - Low May 23
*SUP 2: $0.6849 - 2018 Low May 16
*SUP 3: $0.6815 - Monthly Low Dec 1
*SUP 4: $0.6779 - Monthly Low Nov 17
*COMMENTARY: The recovery from 2018 lows has struggled this week with the pair
lacking follow through above $0.6952 and capped ahead of the 21-DMA. Bulls
continue to look for a close above $0.6996 to confirm a break of the 21-DMA
($0.6960) and shift initial focus to $0.7052. Momentum studies are back at
neutral levels and well placed for a fresh leg lower. Bears currently focus on
tests of Nov & Dec lows.

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.