Free Trial

Bulls Need Close Above $0.7490 *RES....>

AUSSIE TECHS
AUSSIE TECHS: Bulls Need Close Above $0.7490
*RES 4: $0.7590 - Hourly resistance Apr 25
*RES 3: $0.7560 - High May 4
*RES 2: $0.7490 - Hourly support May 8 now resistance
*RES 1: $0.7472 - High May 9
*PRICE: $0.7462 @ 2130GMT
*SUP 1: $0.7436 - Hourly support May 9 
*SUP 2: $0.7410 - 2018 Low May 9 
*SUP 3: $0.7333 - Bollinger band base 
*SUP 4: $0.7368 - Monthly Low June 1 2017
*COMMENTARY: Fresh 2018 & 5mth lows continue although the lack of follow through
is a concern when combined with correcting O/S studies and daily Momentum
divergence. In saying that, bulls now need a close above $0.7490 to gain
breathing room and above $0.7640 to shift initial focus to $0.7694-0.7735 where
the 55-DMA is located. Bears currently focus on $0.7326 June lows while $0.7490
caps.

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.