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Bulls Need Close Above A$1.5771...>

EURO-AUSSIE TECHS
EURO-AUSSIE TECHS: Bulls Need Close Above A$1.5771
*RES 4: A$1.5923 - 21-DMA
*RES 3: A$1.5918 - 55-DMA
*RES 2: A$1.5887 - High May 15
*RES 1: A$1.5771 - Monthly Low Apr 13 now resistance
*PRICE: A$1.5708 @ 2130GMT
*SUP 1: A$1.5688 - Low Mar 15 
*SUP 2: A$1.5598 - Monthly Low Feb 20 
*SUP 3: A$1.5546 - Low Feb 2 
*SUP 4: A$1.5495 - High Jan 25 now support
*COMMENTARY: The sell-off that has defined May so far has resulted in a close
below the 100-DMA (A$1.5731) with immediate pressure on A$1.5688. Overall bears
need a close below A$1.5919 t shift initial focus to A$1.5458-95 where the
200-DMA (A$1.5458) is located. O/S studies are the key concern for bears. Bulls
now need a close above A$1.5771 to gain breathing room and above A$1.5967 to
confirm breaks of 21 & 55-DMAs and to target A$1.6140-92.

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