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Free AccessNZ$1.1139 Resistance Remains......>
AUSSIE-KIWI TECHS: NZ$1.1139 Resistance Remains Key
*RES 4: NZ$1.1240 - High Oct 26
*RES 3: NZ$1.1185 - High Nov 1
*RES 2: NZ$1.1139 - High Nov 14
*RES 1: NZ$1.1095 - 21-DMA
*PRICE: NZ$1.1069 @ 2030GMT
*SUP 1: NZ$1.1031 - 55-DMA
*SUP 2: NZ$1.0984 - Low Nov 15
*SUP 3: NZ$1.0922 - 100-DMA
*SUP 4: NZ$1.0821 - Low Sept 21
*COMMENTARY: The break of the NZ$1.0992 support lacked follow through with the
pair failing to gain traction below the 55-DMA last week. Bears look for a close
below NZ$1.0984 to confirm a bearish bias and initially target the 100-DMA. The
NZ$1.1139 resistance remains key. Bulls need a close above this level to confirm
a break of the 21-DMA, ending bearish hopes and shifting focus back to tests of
2017 highs (NZ$1.1290).
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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.