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Heading South




Breaches Key Short-Term Support


Late SOFR/Treasury Option Trade

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EURO-AUSSIE TECHS: Bulls Need Close Above 21-DMA
*RES 4: A$1.6100 - Bollinger band top
*RES 3: A$1.6056 - Hourly support Apr 26 now resistance, High Apr 30
*RES 2: A$1.5956 - 21-DMA
*RES 1: A$1.5907 - 55-DMA
*PRICE: A$1.5868 @ 2130GMT
*SUP 1: A$1.5830 - Low May 7 
*SUP 2: A$1.5771 - Monthly Low Apr 13 
*SUP 3: A$1.5713 - Weekly Bull channel base off 2017 Low 
*SUP 4: A$1.5700 - 100-DMA
*COMMENTARY: The sell-off that has defined May so far sees the pair flirting
with the bull channel base (A$1.5877) off 2018 lows and focus now on the
A$1.5619-1.5771 support region where the weekly bull channel base, 100-DMA and
21-WMA are noted. Daily studies have room to move before O/S is an issue. Bulls
now need a close above the 21-DMA to ease bearish pressure and above A$1.6056 to
target A$1.6140-92.

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