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Free AccessBulls Need Close Above $0.6996 *RES 4:...>
KIWI TECHS: Bulls Need Close Above $0.6996
*RES 4: $0.7132 - Hourly resistance Apr 24
*RES 3: $0.7102 - Hourly support Apr 25 now resistance
*RES 2: $0.7052 - High May 4
*RES 1: $0.6996 - High May 9
*PRICE: $0.6969 @ 2130GMT
*SUP 1: $0.6935 - Hourly support May 10
*SUP 2: $0.6899 - Low Dec 12
*SUP 3: $0.6815 - Monthly Low Dec 1
*SUP 4: $0.6779 - Monthly Low Nov 17
*COMMENTARY: The sharp sell-off Thursday has lacked follow through having
bounced aggressively from fresh 2018 lows. Daily studies correcting from O/S
remain the key concern for bears. Bulls now need a close above $0.6996 to gain
breathing room and above $0.7052 to hint at a correction back to $0.7153-0.7198
with the 200-DMA at $0.7153. While $0.6996 caps bears retain the advantage and
focus on Nov & Dec lows.
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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.