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Free AccessBulls Need Close Above Krw1076.0...>
DOLLAR-WON TECHS: Bulls Need Close Above Krw1076.0
*RES 4: Krw1086.8 - 55-DMA
*RES 3: Krw1082.8 - High Dec 21
*RES 2: Krw1076.0 - High Dec 28
*RES 1: Krw1071.4 - Daily Bear channel top
*PRICE: Krw1070.7 @ 2300GMT
*SUP 1: Krw1062.2 - Low Jan 16
*SUP 2: Krw1058.8 - 2018 Low Jan 8
*SUP 3: Krw1045.6 - Monthly Low Oct 29 2014
*SUP 4: Krw1037.9 - Daily Bear channel base
*COMMENTARY: Failure to trouble 2018 lows saw the pair flirting with the 21-DMA
(Krw1069.4) last week and capped ahead of the bear channel top. Bulls need a
close above Krw1076.0 to confirm a break of the 21-DMA and bear channel top,
shifting immediate focus to Krw1082.8-1086.8 where the 55-DMA is located.
Support layers are starting to build. Bears now need a close below Krw1058.8 to
reconfirm focus on Krw1038.9-1045.6 where the channel base is found.
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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.