The $0.9085 Jan monthly high remains key resistance this week with a close above this level needed to kick start bullish momentum and see focus turn to layers of resistance in the $0.9147-0.9248 region including the 100 and 200-DMA’s. Tuesday saw the $0.9079-85 resistance region thwart attempts to head higher once again with daily tech studies remaining at very O/B levels and looking to correct lower.
R 4: $0.9169 – High Dec 2
R 3: $0.9141 – 100 day moving average
R 2: $0.9085 – Monthly high Jan 13
R 1: $0.9079 – 38.2% Fibonacci 0.9754-0.8662
Latest price: $0.9035
S 1: $0.8969 – Low Feb 14
S 2: $0.8921 – 55 day moving average
S 3: $0.8907 – Low Feb 10
S 4: $0.8870 – Hourly support Feb 4 & 5
Key moving averages are clustered in the $0.8257-77 region with a close below needed to see overall focus return to retests of the $0.8050-55 region. NZD/USD has pulled back from Monday’s high with Tuesday’s bearish close combined with correcting overbought daily tech studies weighing. A close above the $0.8392 resistance level is needed kick start bullish momentum and shift focus back to Jan 14 highs
R 4: $0.8541 – Monthly high Oct 22
R 3: $0.8428 – High Jan 14
R 2: $0.8414 – 21 day upper Bollinger band
R 1: $0.8392 – High Feb 17
Latest price: $0.8305
S 1: $0.8292 – Hourly support Feb 11
S 2: $0.8277 – 100 day moving average
S 3: $0.8262 – 21 day moving average
S 4: $0.8257 – 55 day moving average
After finding support at the 21-DMA (NZ$1.0753) last week the AUD/NZD has responded by heading higher with initial support now noted at the NZ$1.0825 level on the hourly time frame. Immediate focus is now on the NZ$1.0905-45 region with a close above then seeing the NZ$1.1042-70 region targeted. A close back below the NZ$1.0825 level is needed to relieve renewed bullish pressure while a close below NZ$1.0730 is needed to shift focus lower
R 4: NZ$1.1042 – 100 day moving average
R 3: NZ$1.0969 – 21 day upper Bollinger band
R 2: NZ$1.0945 – High feb 4
R 1: NZ$1.0905 – Hourly resistance Feb 6, Cloud top
Latest price: NZ$1.0875
S 1: NZ$1.0825 – Hourly support Feb 18
S 2: NZ$1.0730 – Low Jan 31
S 3: NZ$1.0570 – Low Jan 29
S 4: NZ$1.0494 – 2014 low 24
EUR/AUD continues to fail topside ahead of the A$1.5301-55 region where 55 and 21-DMA’s are noted. Last week’s low is key this week with a close below needed to hint at a potential continuation lower that would target the 200-DMA (A$1.4558). Daily tech studies continue to slowly look to correct from very oversold levels which may continue to limit downside follow through. A close above the 21-DMA is needed to see focus return to the 2014 high.
R 4: A$1.5668 – High Jan 28
R 3: A$1.5480 – High Feb 4
R 2: A$1.5334 – 21 day moving average
R 1: A$1.5315 – High Feb 10
Latest price: A$1.5228
S 1: A$1.4987 – Low Feb 12
S 2: A$1.4939 – 50.0% Fibonacci 1.4056-1.5832
S 3: A$1.4914 – 100 day moving average
S 4: A$1.4802 – Monthly low Dec 2
