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NZGBs Cheaper To Start RBNZ Week

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SCHATZ TECHS: (U18) 111.940-975 Support Region Key
*RES 4: 112.155 Hourly resistance May 30 
*RES 3: 112.138 Bollinger band top 
*RES 2: 112.135 High June 21 
*RES 1: 112.085 Lows July 2 & 3 now resistance
*SUP 1: 112.027 Rising daily TL off May low 
*SUP 2: 112.000 Low July 5 
*SUP 3: 111.975 Hourly support June 14 
*SUP 4: 111.940 High June 13 now support
*COMMENTARY: Bears failed to capitalise on past week's dips with support
emerging ahead of 111.975. 111.940 remains key support. Bears need a close below
111.975 to confirm an easing of bullish pressure and below 111.940 to shift
initial focus to 111.815-887 where the 100-DMA is located. Bulls continue to
look for a close above 112.085 to gain breathing room and above 112.155 to
confirm a shift in focus back to 112.270-425 where 2018 highs are noted.

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