Free Trial

Topside Hesitation Leaves Pair.........>

AUSSIE TECHS
AUSSIE TECHS: Topside Hesitation Leaves Pair Looking Heavy
*RES 4: $0.8162 - Monthly high May 14 2015
*RES 3: $0.8144 - Bollinger band top
*RES 2: $0.8135 - 2018 High Jan 26
*RES 1: $0.8118 - High Jan 29
*PRICE: $0.8040 @ 2030GMT
*SUP 1: $0.8002 - Low Jan 26 
*SUP 2: $0.7990 - Low Jan 24 
*SUP 3: $0.7961 - 21-DMA 
*SUP 4: $0.7954 - Low Jan 23
*COMMENTARY: Hesitation ahead of $0.8135-62 remains a concern given daily
studies looking to correct from O/B. Bulls look for a close above $0.8162 to
shift focus to $0.8295-0.8542 where the weekly bull channel top ($0.8456) is
noted. The break of $0.8040 following Wednesday's topside failure leaves the
pair looking heavy and risks a correction to $0.7916-61 where the 21-DMA is
noted. Below $0.7916 remains needed to target $0.7729-0.7802.

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.