Free Trial

Bollinger Bands Continue To.......>

AUSSIE-KIWI TECHS
AUSSIE-KIWI TECHS: Bollinger Bands Continue To Narrow
*RES 4: NZ$1.0894 - High Feb 8
*RES 3: NZ$1.0861 - 200-DMA
*RES 2: NZ$1.0833 - 55-WMA
*RES 1: NZ$1.0784 - High Mar 15, Bollinger band top
*PRICE: NZ$1.0721 @ 2030GMT
*SUP 1: NZ$1.0700 - Low Mar 9
*SUP 2: NZ$1.0650 - 2018 Low Feb 22
*SUP 3: NZ$1.0588 - Low July 31
*SUP 4: NZ$1.0491 - Low July 13
*COMMENTARY: Sideways trading continues as Bolli bands narrow increasing the
likelihood of a breakout in the near future. Bears need a close below NZ$1.0700
to return focus to NZ$1.0588-1.0650 where 2018 lows and the bear channel base
are situated. Bulls still need a close above NZ$1.0894 to confirm breaks of 55 &
200-DMAs and hint at a move to NZ$1.1006-73 where 2018 highs are noted although
the 100-DMA (NZ$1.0928) and bear channel top (NZ$1.0964) may slow the move.

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.