After having found support ahead of the $0.9205 level last week the AUD/USD traded above last week’s high before stalling and dipping back towards initial support. The bounce has eased the previous bearish pressure a little but bulls will continue to look for a close above the 21-DMA to end bearish hopes and shift focus higher. Bears need to see a break back below initial support to reconfirm bearish pressure and target a break of $0.9205.
RES 4: $0.9408 – High May 14
RES 3: $0.9335 – High May 20
RES 2: $0.9305 – 21-DMA
RES 1: $0.9277 – High May 27
LPRICE: $0.9257
SUP 1: $0.9233 – Hourly support May 26
SUP 2: $0.9205 – Low May 2
SUP 3: $0.9174 – 200-DMA
SUP 4: $0.9112 – 100-DMA
NZD/USD finds support on dips ahead of the key $0.8501-18 region and when combined with O/S daily studies this could be of some concern to bears. In saying that, bulls need to see a close above the $0.8607-20 region to confirm an end to bearish focus and see immediate focus shift higher to retests of the $0.8694 May 15 high. Bears need to see a break lower to kick start bearish momentum or else the risk of a break higher increases
RES 4: $0.8655 – High May 16
RES 3: $0.8620 – Hourly resistance May 20, 21-DMA
RES 2: $0.8607 – 55-DMA
RES 1: $0.8595 – High May 21
LPRICE: $0.8545
SUP 1: $0.8518 – Low Apr 29
SUP 2: $0.8501 – Low Mar 20
SUP 3: $0.8480 – 38.2% Fibonacci 0.8052-0.8745
SUP 4: $0.8474 – 100-DMA
After having found support ahead of the Ichimoku cloud top last week the AUD/NZD broke back above the 21-DMA to end the week. The new week has so far seen the pair finding support ahead of the 21-DMA as it works its way back towards the key $1.0908-11 region. Bears need to see the pair close back below the 21-DMA to ease the modest bullish pressure while a close below NZ$1.0728 is needed to target 2014 lows.
RES 4: NZ$1.0947 – High Feb 4
RES 3: NZ$1.0908 – 38.2% Fibonacci 1.1579-1.0476
RES 2: NZ$1.0878 – High May 14
RES 1: NZ$1.0858 – High May 19
LPRICE: NZ$1.0834
SUP 1: NZ$1.0796 – 21-DMA
SUP 2: NZ$1.0753 – 100-DMA
SUP 3: NZ$1.0728 – Low May 7
SUP 4: NZ$1.0691 – 21 day lower Bollinger band
AUD/JPY continued its recovery from last week’s spike below the 100-DMA . The 21 & 55-DMA’s are noted in the Y94.69-81 region with a close above Y94.81 needed to confirm an easing of bearish pressure and a close above Y95.22 needed to shift overall focus back to the 2014 high. While the Y94.69-81 region caps bears target the 100 then 200-DMA. Daily studies are approaching O/S and may support on dips.
RES 4: Y95.22 – Alternating hourly support/resistance
RES 3: Y94.81 – 21-DMA
RES 2: Y94.78 – High May 20
RES 1: Y94.69 – 55-DMA
LPRICE: Y94.41
SUP 1: Y93.75 – Hourly support May 27
SUP 2: Y93.75 – Hourly support May 22
SUP 3: Y93.36 – 100-DMA
SUP 4: Y92.95 – 200-DMA
With the 21-DMA having guided the pair lower, the EUR/AUD broke below initial support on Tuesday. Immediate focus shifts to the A$1.4706 support with bears needing a break below to confirm a shift in focus to the 2014 lows. Bulls need to see the pair close back above the 21-DMA to ease the current bearish pressure while a close above the 200-DMA is needed to end bearish hopes.
RES 4: A$1.4893 – 55-DMA
RES 3: A$1.4877 – 200-DMA
RES 2: A$1.4835 – High May 22
RES 1: A$1.4790 – 21-DMA
LPRICE: A$1.4722
SUP 1: A$1.4706 – High May 19 now support
SUP 2: A$1.4607 – Low May 19
SUP 3: A$1.4560 – 2014 Low May 15, 21 day lower Bollinger band
SUP 4: A$1.4476 – High Nov 13 2013 now support
