Free Trial

Weekly Bull Channel Base Back In The...>

AUSSIE TECHS
AUSSIE TECHS: Weekly Bull Channel Base Back In The Picture
*RES 4: $0.7814 - 200-DMA
*RES 3: $0.7763 - Hourly support Apr 19 now resistance
*RES 2: $0.7735 - Low Apr 12 now resistance
*RES 1: $0.7702 - Hourly resistance Apr 20
*PRICE: $0.7670 @ 0250GMT
*SUP 1: $0.7644 - 100-WMA 
*SUP 2: $0.7640 - 2018 low Mar 29 
*SUP 3: $0.7625 - Low Dec 14 
*SUP 4: $0.7603 - Weekly Bull channel base off 2016 Low
*COMMENTARY: The 200-DMA capped with the sell-offs Thurs/Fri returning pressure
to $0.7603-44 where the 100-WMA and LT bull channel base off 2016 lows are.
Bears need a weekly close below the channel base to initially target $0.7498 Dec
lows with a close below then targeting $0.7319. Bulls look for a close above
$0.7735 to ease bearish pressure and shift focus back to $0.7814-42 where the
200-DMA ($0.7814) is noted. The Bollinger base ($0.7629) is the concern.

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.