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Free AccessRejected Ahead Of 55-WMA *RES.....>
AUSSIE-KIWI TECHS: Rejected Ahead Of 55-WMA
*RES 4: NZ$1.0972 - 100-DMA
*RES 3: NZ$1.0892 - 55-DMA
*RES 2: NZ$1.0851 - 200-DMA
*RES 1: NZ$1.0835 - 55-WMA
*PRICE: NZ$1.0786 @ 2030GMT
*SUP 1: NZ$1.0741 - Hourly resistance Feb 26 now support
*SUP 2: NZ$1.0700 - Alternating daily support/resistance
*SUP 3: NZ$1.0650 - 2018 Low Feb 22
*SUP 4: NZ$1.0588 - Low July 31
*COMMENTARY: The lack of follow through on 2018 lows combined with correcting
O/S studies has provided the impetus for probes higher with the pair currently
capped ahead of the 55-WMA with key MAs noted NZ$1.0835-1.0972. Bulls now look
for close above the 55-DMA to hint at a move targeting NZ$1.1072-1.1139 and
above the 100-DMA to confirm. Bears now need a close below NZ$1.0741 to shit
focus back to 2018 lows.
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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.