Free Trial

(H18) Bears Need Close Below....>

AUSSIE 3-YEAR TECHS: (H18) Bears Need Close Below 97.830 
*RES 4: 97.954 - Daily Bull channel top 
*RES 3: 97.910 - High Feb 7 
*RES 2: 97.890 - High Feb 9 
*RES 1: 97.872 - 55-DMA
*PRICE: 97.865 @ 2030GMT
*SUP 1: 97.830 - Low Feb 12 
*SUP 2: 97.790 - Low Feb 8, 21-DMA 
*SUP 3: 97.755 - Low Feb 5 
*SUP 4: 97.705 - Low Jan 31
*COMMENTARY: The contract is currently pressuring the 55-DMA with bulls needing
a close above 97.905 to confirm breaks of 55 & 100-DMAs and shift focus to
97.960-98.015 where the 200-DMA (97.991) is noted. Initial support is noted at
97.830 with bears needing a close below to ease pressure on resistance layers
and shift initial focus back to the 21-DMA. Daily studies at O/B levels remain a
concern for bulls.

To read the full story



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.