Free Trial

Bulls Need Close Above $0.8079 *RES....>

AUSSIE TECHS
AUSSIE TECHS: Bulls Need Close Above $0.8079
*RES 4: $0.8162 - Monthly high May 14 2015
*RES 3: $0.8135 - 2018 High Jan 26
*RES 2: $0.8118 - High Jan 29
*RES 1: $0.8079 - Hourly resistance Jan 31
*PRICE: $0.8031 @ 2030GMT
*SUP 1: $0.8013 - Hourly resistance Feb 1 now support 
*SUP 2: $0.7985 - Low Feb 1 
*SUP 3: $0.7970 - 21-DMA 
*SUP 4: $0.7954 - Low Jan 23
*COMMENTARY: Hesitation ahead of $0.8135-62 remains a concern given daily
studies correcting from O/B. Bulls look for a close above $0.8079 to gain
breathing room and above $0.8162 to shift focus to $0.8295-0.8542 where the
weekly bull channel top ($0.8456) is noted. The break of $0.8040 following
Wednesday's topside failure leaves the pair looking heavy and risks a correction
to $0.7916-72 where the 21-DMA is noted. Below $0.7916 targets $0.7729-0.7802.

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.