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Topside Failures Taking Their.....>

AUSSIE-KIWI TECHS: Topside Failures Taking Their Toll
*RES 4: NZ$1.1107 - High Sept 12
*RES 3: NZ$1.1057 - Hourly support Sept 15a now resistance
*RES 2: NZ$1.1025 - Hourly support Sept 15 now resistance
*RES 1: NZ$1.0977 - Hourly support Oct 11 now resistance
*PRICE: NZ$1.0970 @ 2000GMT
*SUP 1: NZ$1.0944 - Low Oct 9
*SUP 2: NZ$1.0934 - 21-DMA
*SUP 3: NZ$1.0925 - Hourly support Oct
*SUP 4: NZ$1.0906 - 55-DMA
*COMMENTARY: The recovery from Sept lows resulted in a gapping move higher
Monday only to remain capped ahead of NZ$1.1025. Bulls need a close above
NZ$1.1025 to shift focus to NZ$1.1107-42. Topside hesitation has taken its toll
with the pair looking heavy and focus on 55 & 21-DMAs. bears now need a close
below the the 55-DMA (NZ$1.0906) to shift focus back to NZ$1.0798-1.0824 and
below NZ$1.0798 to target 100 (NZ$1.0731) & 200 (NZ$1.0720) DMAs.

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