NZ$1.1050 Break Needed Before.....>

AUSSIE-KIWI TECHS: NZ$1.1050 Break Needed Before Recovery Gains Momentum

*RES 4: NZ$1.1140 Nov 14 high

*RES 3: NZ$1.1105 Hourly high Nov 14

*RES 2: NZ$1.1075 Hourly low Nov 14, now resistance

*RES 1: NZ$1.1050 Nov 15 high

*PRICE: NZ$1.1033 @ 2055GMT 

*SUP 1: NZ$1.1000 Hourly support

*SUP 2: NZ$1.0989/90 Nov 15 low, 76.4% of $1.0898-$1.1289

*SUP 3: NZ$1.0953 1% volatility band

*SUP 4: NZ$1.0930/34 Swing $1.1010-$1.1140, 76.4% Fibo level

*COMMENTARY: Lost support from the 4 month rising support line on Wednesday, the

fall eventually coming to rest at NZ$1.0989, basically in line with the initial

76.4% Fibo retrace level. Looks like we then completed a five wave fall from the

Nov 14 high at $1.1140 and with near term conditions oversold, warranted a

bounce. This will need to clear NZ$1.1050 before any further impetus will be

gained. Loss of NZ$1.0989, has the 1% vol band protecting NZ$1.0934-NZ$1.0930.