Free Trial

Below $0.7221 To Target 200-DMA *RES.....>

KIWI TECHS: Below $0.7221 To Target 200-DMA
*RES 4: $0.7458 - Low July 28 now resistance 
*RES 3: $0.7433 - Monthly High Sept 20 
*RES 2: $0.7374 - High Sept 25 
*RES 1: $0.7331 - 2018 High Jan 17
*PRICE: $0.7304 @ 2030GMT
*SUP 1: $0.7266 - Low Jan 22
*SUP 2: $0.7244 - Low Jan 18
*SUP 3: $0.7233 - Low Jan 17
*SUP 4: $0.7221 - Low Jan 12
*COMMENTARY: The close above $0.7243 in previous weeks ended bearish hopes and
shifted initial focus to $0.7374-0.7433 where Sept highs are located. O/B daily
studies looking to correct remain the key concern for bulls as layers of support
build. Bears look for a close below $0.7221 to target a correction back to
$0.7122-30 where the 200-DMA is situated. Overall below the 55-DMA ($0.7010) is
needed to confirm focus on 2017 lows ($0.6779).

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.