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Free AccessPressure On Key DMAs & Channel....>
EURO-AUSSIE TECHS: Pressure On Key DMAs & Channel Base
*RES 4: A$1.5178 - Hourly resistance Oct 12
*RES 3: A$1.5135 - High Oct 13
*RES 2: A$1.5105 - Hourly resistance Oct 13
*RES 1: A$1.5024- Alternating hourly support/resistance Oct 13
*PRICE: A$1.4986 @ 2000GMT
*SUP 1: A$1.4960 - 55-DMA
*SUP 2: A$1.4934 - Daily Bull channel base
*SUP 3: A$1.4902 - 100-DMA
*SUP 4: A$1.4790 - Low Sept 21
*COMMENTARY: With the pair looking heavy heading into Friday bears were not
disappointed with the sell-off and bearish close below the 21-DMA (A$1.5022)
that sees pressure back on the 100-DMA, 55-DMA and bull channel base. bears now
need a close below the 100-DMA to shift initial focus to A$1.4790. Layers of
support have been left in the wake with bulls needing a close above A$1.5024 to
gain breathing room.
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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.