Free Trial

(M18) Close Below 55-DMA........>

AUSSIE 3-YEAR TECHS
AUSSIE 3-YEAR TECHS: (M18) Close Below 55-DMA Targets 97.790 
*RES 4: 97.947 - 200-DMA 
*RES 3: 97.935 - High Mar 15 
*RES 2: 97.908 - 100-DMA 
*RES 1: 97.870 - Lows Mar 16 & 19 now resistance
*PRICE: 97.840 @ 2030GMT
*SUP 1: 97.836 - Bollinger band base 
*SUP 2: 97.790 - Low Feb 8 
*SUP 3: 97.755 - Low Feb 5 
*SUP 4: 97.705 - Low Jan 31
*COMMENTARY: The recovery from 55-DMA (97.841) tests stalled ahead of the
97.947-994 region where the 200-DMA, 200-WMA and bear channel top off 2017 highs
are noted leaving M18 looking heavy. Bears continue to look for a close below
the 55-DMA to confirm a shift in initial focus to 97.790 and overall focus to
97.690 2018 lows. Bulls now need a close above the 100-DMA to shift initial
focus back to 97.935-994.

To read the full story

Close

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.