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Free AccessFinding Support Ahead Of 21-DMA...>
EURO-AUSSIE TECHS: Finding Support Ahead Of 21-DMA
*RES 4: A$1.5546 - Daily Bull channel top
*RES 3: A$1.5392 - 2017 High Oct 26
*RES 2: A$1.5298 - Alternating hourly support/resistance
*RES 1: A$1.5255 - High Oct 27
*PRICE: A$1.5215 @ 2000GMT
*SUP 1: A$1.5182 - Hourly support Oct 31
*SUP 2: A$1.5123 - Low Oct 31
*SUP 3: A$1.5098 - 21-DMA
*SUP 4: A$1.5032 - Daily Bull channel base
*COMMENTARY: The dramatic sell-off after trading at fresh 2017 and 16mth highs
has failed to trouble the 21-DMA with support emerging ahead and the bounce
seeing focus back to A$1.5255 today. Bulls need a close above this level to
initially target 2017 highs and then the daily bull channel top above. Bears
continue to look for a close below the 21-DMA to add weight to their case and
below the 55-DMA (A$1.5003 to shift focus back to A$1.4790 Sept lows.
To read the full story
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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.