Free Trial

Below 21-DMA To Pressure $0.7625-40....>

AUSSIE TECHS
AUSSIE TECHS: Below 21-DMA To Pressure $0.7625-40
*RES 4: $0.7815 - 200-DMA
*RES 3: $0.7797 - Bollinger band top
*RES 2: $0.7763 - Hourly support Apr 19 now resistance
*RES 1: $0.7735 - Low Apr 12 now resistance
*PRICE: $0.7714 @ 0430GMT
*SUP 1: $0.7691 - Hourly support Apr 10 
*SUP 2: $0.7640 - 100-WMA, 2018 low Mar 29 
*SUP 3: $0.7636 - Bollinger band base 
*SUP 4: $0.7625 - Low Dec 14
*COMMENTARY: The 200-DMA continues to cap attempts to break higher with bulls
needing a close above $0.7842 to shift initial focus to $0.7988 and overall
focus to $0.8135-62. Correcting O/B studies add weight to the bearish. Bears
look for a close below the 21-DMA ($0.7717) to shift initial focus back to
$0.7625-40 where 2018 lows and the 100-WMA are located. Today bulls look for a
close above $0.7763 to gain breathing room.

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.