AUD/USD again found support ahead of the key $0.9176-0.9205 region with the result being a solid move higher with initial support having developed on the hourly time frame at $0.9275. The move higher popped above the 21-DMA ($0.9304) with bulls looking for a close above the $0.9335 May 20 high to confirm a break of the 21-DMA and see bulls targeting the $0.9426-61 region. Bears need to see a close below $0.9275 to ease the renewed bullish pressure.
RES 4: $0.9461 – 2014 high Apr 10
RES 3: $0.9426 – High Apr 11
RES 2: $0.9408 – High May 14
RES 1: $0.9335 – High May 20
LPRICE: $0.9311
SUP 1: $0.9275 – Hourly support May 29, 55-DMA
SUP 2: $0.9205 – Low May 2
SUP 3: $0.9176 – 200-DMA
SUP 4: $0.9115 – 100-DMA
After finding support at the 100-DMA on Wednesday, the NZD/USD managed a dip below on Thursday before closing marginally above. 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: $0.8606 – 55-DMA
RES 2: $0.8595 – High May 21
RES 1: $0.8525 – Previous hourly support now resistance
LPRICE: $0.8483
SUP 1: $0.8453 – Low May 29
SUP 2: $0.8426 – Low Mar 12
SUP 3: $0.8415 – 50.0% Fibonacci 0.8052-0.8778
SUP 4: $0.8349 – 200-DMA
With the 21-DMA having supported this week the AUD/NZD continued the move higher from Wednesday with the pair pausing ahead of the 200-DMA after trading at fresh 2014 and 5 month highs. Initial support is now noted at NZ$1.0955 but bears need to see a close below the NZ$1.0908 previous resistance level to ease the current bullish pressure that has bulls firmly focused on the 200-DMA. The pair has not traded above the 200-DMA since Mar 2013.
RES 4: NZ$1.1069 – High Dec 6 2013
RES 3: NZ$1.1048 – High Dec 11 2013
RES 2: NZ$1.1036 – 50.0% Fibonacci 1.1579-1.0476
RES 1: NZ$1.0995 – 200-DMA
LPRICE: NZ$1.0963
SUP 1: NZ$1.0955 – Hourly support May 29
SUP 2: NZ$1.0908 – Previous daily resistance now support
SUP 3: NZ$1.0853 – Alternating daily support/resistance
SUP 4: NZ$1.0805 – 21-DMA
AUD/JPY continued to find support ahead of the 21 day lower Bollinger band on dips with the resulting bounce seeing aussie-yen bounce to close the session a couple of pips below the 21 & 55-DMA’s. Bulls look for a close above these DMA’s to end bearish hopes and see overall focus shift back to a retest of the 2014 highs. Bears hold out hope for the Y94.77 level to cap and subsequent dips back towards the 100 & 200-DMA’s.
RES 4: Y95.95 – 21 day upper Bollinger band
RES 3: Y95.19 – High May 19
RES 2: Y94.88 – Ichimoku cloud top
RES 1: Y94.77 – 55-DMA
LPRICE: Y94.72
SUP 1: Y94.24 – Hourly support May 29
SUP 2: Y93.68 – Low May 29
SUP 3: Y93.55 – 21 day lower Bollinger band
SUP 4: Y93.38 – 100-DMA
With the 21-DMA having guided the EUR/AUD lower this week the euro-aussie continued its move lower on Thursday with bears firmly focused on a test of the 2014 low. Initial resistance is now noted at the previous A$1.4706 support level with bulls needing a close above this level to ease the current bearish pressure. A break to fresh 2014 lows see bears targeting the A$1.4051 Nov 2013 monthly low.
RES 4: A$1.4875 – 200-DMA
RES 3: A$1.4835 – High May 22
RES 2: A$1.4766 – 21-DMA
RES 1: A$1.4706 – Previous daily support now resistance
LPRICE: A$1.4612
SUP 1: A$1.4607 – Low May 19
SUP 2: A$1.4560 – 2014 Low May 15
SUP 3: A$1.4542 – 21 day lower Bollinger band
SUP 4: A$1.4476 – High Nov 13 2013 now support
