Free Trial

Topside Follow Through Lacking *RES 4:...>

KIWI TECHS
KIWI TECHS: Topside Follow Through Lacking
*RES 4: $0.7114 - 55-DMA
*RES 3: $0.7102 - Hourly support Apr 25 now resistance 
*RES 2: $0.7052 - High May 4 
*RES 1: $0.7023 - High May 31
*PRICE: $0.6997 @ 2130GMT
*SUP 1: $0.6959 - High May 28 now support
*SUP 2: $0.6944 - 21-DMA
*SUP 3: $0.6880 - Low May 30
*SUP 4: $0.6849 - 2018 Low May 16
*COMMENTARY: The break of $0.6998 has so far lacked follow through with bulls
now looking for a close above $0.7052 to shift initial focus to $0.7103-0.7200
where 55, 100 & 200-DMAs are situated. The 21-DMA remains key support to end the
week. Bears now need a close below the 21-DMA to gain breathing room and return
focus to $0.6849-80 where 2018 lows are situated. The Bollinger top ($0.7032) is
the key concern for bulls.

To read the full story

Close

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.