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Free AccessBulls Need Close Above $0.7546 *RES....>
AUSSIE TECHS: Bulls Need Close Above $0.7546
*RES 4: $0.7648 - Hourly resistance Apr 23
*RES 3: $0.7620 - High Apr 24
*RES 2: $0.7590 - Hourly resistance Apr 25
*RES 1: $0.7546 - High May 1
*PRICE: $0.7531 @ 2130GMT
*SUP 1: $0.7470 - 2018 Low May 1
*SUP 2: $0.7368 - Monthly Low June 1 2017
*SUP 3: $0.7326 - Monthly Low May 9 2017
*SUP 4: $0.7265 - Low Jan 5 2017
*COMMENTARY: Recent 2018 & nearly 12 month lows following the close below
$0.7498 left the pair looking heavy and bears focused on $0.7326. Bears now look
for a close below this level to then target $0.7142 Dec 2016 monthly lows. O/S
studies have provided the impetus for a bounce. Bulls now need a close above
$0.7546 to gain breathing room and above $0.7590 to initially pressure the
$0.7648 resistance level where the 21-DMA is located.
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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.