NZ$1.1105 Break Needed To Aid.....>

AUSSIE-KIWI TECHS: NZ$1.1105 Break Needed To Aid Further Recovery

*RES 4: NZ$1.1218/22 76.4% of $1.1289-$1.0988, Oct 31 high

*RES 3: NZ$1.1170/74 Nov 2 high, 61.8% of $1.1289-$1.0988

*RES 2: NZ$1.1139 Nov 14 high, 50% Fibo of $1.1289-$1.0988

*RES 1: NZ$1.1105 38.2% Fibo of $1.1289-$1.0988

*PRICE: NZ$1.1076 @ 2100GMT 

*SUP 1: NZ$1.1045/55 Hourly support

*SUP 2: NZ$1.1011/12 Nov 8 low, hourly base Nov 15

*SUP 3: NZ$1.0989/90 Nov 15 low, 76.4% of $1.0898-$1.1289

*SUP 4: NZ$1.0930/34 Swing $1.1010-$1.1139, 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 NZ$1.1139 and with near term conditions oversold, warranted a

bounce. This now sees NZ$1.1105 as the bar to an even better recovery. Support

NZ$1.1055-NZ$1.1011.