Free Trial

NZ$1.0843 Support Remains Key.....>

AUSSIE-KIWI TECHS
AUSSIE-KIWI TECHS: NZ$1.0843 Support Remains Key
*RES 4: NZ$1.1139 - High Nov 14
*RES 3: NZ$1.1073 - 2018 High Jan 29
*RES 2: NZ$1.1006 - Low Jan 30 now resistance
*RES 1: NZ$1.0947 - High May 22
*PRICE: NZ$1.0927 @ 2130GMT
*SUP 1: NZ$1.0885 - 200-DMA
*SUP 2: NZ$1.0843 - High May 11 now support
*SUP 3: NZ$1.0808 - 55-WMA
*SUP 4: NZ$1.0758 - 100-DMA
*COMMENTARY: Bears have so far failed to capitalise on Friday's sell-off with
the bounce from ahead of NZ$1.0843 to start the new week confirming significance
of this level. Bulls now look for a close above NZ$1.0947 to reconfirm focus on
2018 highs. Bears need a close below NZ$1.0843 to confirm an easing of bullish
pressure and see focus shift back to tests of the 100-DMA (NZ$1.0758).
Correcting O/B daily studies are the key concern for bulls.

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.