AUD/USD continues to find support ahead of the key $0.9176-0.9205 region. The $0.9277 level has recently capped the bounces off this support region and bulls need a close above $0.9277 to confirm an easing of bearish pressure, whereas a close above the 21-DMA is needed to shift focus back to the $0.9410-60 region. While $0.9277 caps bears will focus on a break of the $0.9205 support with a close below the 200-DMA needed to hint at further downside.
RES 4: $0.9408 – High May 14
RES 3: $0.9335 – High May 20
RES 2: $0.9304 – 21-DMA
RES 1: $0.9277 – High May 27
LPRICE: $0.9233
SUP 1: $0.9205 – Low May 2
SUP 2: $0.9176 – 200-DMA
SUP 3: $0.9115 – 100-DMA
SUP 4: $0.8997 – Low Mar 20
After having repeatedly found support ahead of the $0.8518-20 region the NZD/USD finally broke lower on Wednesday with the pair pausing at the 100-DMA so far. Bulls need to see a close above $0.8525 to hint at an easing of bearish pressure whereas a close above the $0.8620 resistance level is needed to shift focus back to the $0.8694-0.8778. In saying that, bears are in control with a close below the 100-DMA needed to target the 200-DMA.
RES 4: $0.8620 – Hourly resistance May 20
RES 3: $0.8607 – 55-DMA
RES 2: $0.8595 – High May 21
RES 1: $0.8525 – Previous hourly support now resistance
LPRICE: $0.8500
SUP 1: $0.8476 – 100-DMA
SUP 2: $0.8426 – Low Mar 12
SUP 3: $0.8415 – 50.0% Fibonacci 0.8052-0.8778
SUP 4: $0.8346 – 200-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 pair had been finding support ahead of the 21-DMA with the result being a break higher on that saw the pair closing above the falling daily trend line. Bulls now look for a continuation higher that targets the NZ$1.0947–98 region where the 200-DMA is noted. Bears need a close below the 21-DMA to ease bullish pressure.
RES 4: NZ$1.0998 – 200-DMA
RES 3: NZ$1.0947 – High Feb 4
RES 2: NZ$1.0908 – 38.2% Fibonacci 1.1579-1.0476
RES 1: NZ$1.0885 – High May 28
LPRICE: NZ$1.0868
SUP 1: NZ$1.0838 – Previous hourly resistance now support
SUP 2: NZ$1.0796 – 21-DMA
SUP 3: NZ$1.0753 – 100-DMA
SUP 4: NZ$1.0728 – Low May 7
The recovery from last week’s spike below the 100-DMA appears to have stalled with the pair remaining capped ahead of the 21 & 55-DMA’s. While these moving averages cap, bears will target the 100 & 200-DMA’s noted in the Y92.98-93.37 region. Bulls continue to look for a close above the 21 & 55-DMA’s to confirm an easing of bearish pressure and hint at further topside. Overall bulls need a close above Y95.19 to target 2014 highs.
RES 4: Y95.19 – High May 19
RES 3: Y94.75 – 21-DMA
RES 2: Y94.72 – 55-DMA
RES 1: Y94.27 – Hourly resistance May 28
LPRICE: Y94.05
SUP 1: Y93.74 – Low May 28
SUP 2: Y93.55 – 21 day lower Bollinger band
SUP 3: Y93.37 – 100-DMA
SUP 4: Y92.98 – 200-DMA
With the 21-DMA having guided the EUR/AUD lower for the last few days, the euro-aussie broke below initial support on Tuesday. Immediate focus shifts to the A$1.4706 May 19 high which is now seen as 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$1.4879 – 55-DMA
RES 3: A$1.4876 – 200-DMA
RES 2: A$1.4835 – High May 22
RES 1: A$1.4781 – 21-DMA
LPRICE: A$1.4710
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
