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(M2) Correction Extends


Late Session Rebound


(M2) Corrective Cycle Remains In Play

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EURO-AUSSIE TECHS: Flirting With 200-DMA
*RES 4: A$1.5771 - Monthly Low Apr 13 now resistance
*RES 3: A$1.5740 - 100-DMA
*RES 2: A$1.5651 - Low May 19 now resistance
*RES 1: A$1.5618 - High May 23
*PRICE: A$1.5476 @ 2130GMT
*SUP 1: A$1.5473 - 200-DMA 
*SUP 2: A$1.5390 - Low Feb 1 
*SUP 3: A$1.5317 - 55-WMA 
*SUP 4: A$1.5256 - Low Jan 29
*COMMENTARY: The pair is gaining traction following the break of the weekly bull
channel base off 2017 lows with immediate the pair now flirting with the 200-DMA
(A$1.5470). Bears need a close below to 200-DMA to initially target the 55-WMA
and then 2018 lows (A$1.5152). O/S daily studies are seen as the key concern for
b ears. Bulls now need a close above A$1.5651 to gain breathing room and above
A$1.5771 to shift focus higher.

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