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Free AccessNZ$1.0882 Resistance Remains......>
AUSSIE-KIWI TECHS: NZ$1.0882 Resistance Remains Key
*RES 4: NZ$1.0966 - High Mar 31
*RES 3: NZ$1.0935 - Monthly High May 1
*RES 2: NZ$1.0886 - Bollinger band top
*RES 1: NZ$1.0882 - Low May 1 now resistance
*PRICE: NZ$1.0836 @ 2100GMT
*SUP 1: NZ$1.0794 - Hourly support Aug 15
*SUP 2: NZ$1.0788 - Daily Bull channel base
*SUP 3: NZ$1.0772 - Hourly support Aug 15a
*SUP 4: NZ$1.0739 - 21-DMA
*COMMENTARY: Failure to take out NZ$1.0882 and the sell-off that followed are
concerns for bulls when combined with the Bollinger top limiting follow through
and daily studies looking to correct from O/B. The 21-DMA is key support this
week. Bears need a close below the 21-DMA to shift initial focus to DMAs
clustered NZ$1.0598-1.0656. Bulls continue to look for a close above NZ$1.0882
to reconfirm a bullish bias targeting NZ$1.0935-1.1020.
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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.