The $0.9180-0.9233 region remains key support for the AUD/USD with this region continuing to support on dips. Bears look for a close below $0.9205 to confirm a downside break and a close below the 200-DMA to add weight to a bearish outlook and initially target the 100-DMA. Bulls continue to look 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.
RES 4: $0.9426 – High Apr 11
RES 3: $0.9408 – High May 14
RES 2: $0.9335 – High May 20
RES 1: $0.9304 – 21-DMA
LPRICE: $0.9273
SUP 1: $0.9233 – Low June 2
SUP 2: $0.9205 – Low May 2
SUP 3: $0.9179 – 200-DMA
SUP 4: $0.9124 – 100-DMA
Following on from Monday’s close below the 100-DMA the NZD/USD remained capped by the 100-DMA on Wednesday before trading at fresh 3 month lows. Immediate focus remains on the 200-DMA with bears targeting a test while the $0.8482-0.8525 region caps. Bulls continue to look for a close above $0.8525 to signal a false break lower and ease bearish pressure a little. Overall above the 55-DMA is needed to target 2014 highs once more.
RES 4: $0.8595 – High May 21
RES 3: $0.8525 – Previous hourly support now resistance
RES 2: $0.8498 – High June 2
RES 1: $0.8484 – 100-DMA
LPRICE: $0.8411
SUP 1: $0.8359 – 200-DMA
SUP 2: $0.8329 – 61.8% Fibonacci 0.8052-0.8778
SUP 3: $0.8244 – Low Feb 20
SUP 4: $0.8183 – Low Feb 25
AUD/NZD has continued the rally from the dip back towards the NZ$1.0908 support closing above the 200-DMA for the first time since Nov 2012. Immediate focus shifts to NZ$1.1069 as the close above the 200-DMA adds support to the bullish case with bulls initially targeting the NZ$1.1313 high from late Nov 2013 overall. Initial support is noted at the NZ$1.1000 level with bears needing a close below to ease the bullish pressure
RES 4: NZ$1.1165 – 61.8% Fibonacci 1.1579-1.0476
RES 3: NZ$1.1069 – High Dec 6 2013
RES 2: NZ$1.1048 – High Dec 11 2013
RES 1: NZ$1.1036 – 50.0% Fibonacci 1.1579-1.0476
LPRICE: NZ$1.1013
SUP 1: NZ$1.1000 – Hourly support June 4
SUP 2: NZ$1.0908 – Previous daily resistance now support
SUP 3: NZ$1.0853 – Alternating daily support/resistance
SUP 4: NZ$1.0841 – 21-DMA
AUD/JPY closed above the 21-DMA on Tuesday with it continuing to rally on Thursday. Initial support is now noted on the hourlies at Y95.05 but bears need to see a close below the Y94.71 support to confirm a break back below the 21-DMA and an easing of bullish pressure. Overall a close below Y94.26 is needed to shift focus back to the 200-DMA. For now, bulls are targeting the Y96.25-51 region
RES 4: Y98.16 – High May 29 2013
RES 3: Y96.51 – 2014 high Apr 4
RES 2: Y96.24 – High Apr 23
RES 1: Y95.95 – 21 day upper Bollinger band
LPRICE: Y95.26
SUP 1: Y95.05 – Hourly support June 4
SUP 2: Y94.71 – Hourly support June 3
SUP 3: Y94.26 – Hourly support May 29
SUP 4: Y93.68 – Low May 29
The 21-DMA continues to thwart attempts to rally as it did last week with bears continuing to target 2014 lows until a close back above the 21-DMA is seen. Immediate focus remains on a break of the recent A$1.4636 support to confirm a retest of the 2014 lows. Bulls need a close above the 21-DMA to confirm an easing of bearish pressure whereas a close above the 200-DMa is needed to end bearish hopes and shift focus back to A$1.5021
RES 4: A$1.5021 – High Apr 29
RES 3: A$1.4872 – 200-DMA
RES 2: A$1.4835 – High May 22
RES 1: A$1.4717 – 21-DMA
LPRICE: A$1.4654
SUP 1: A$1.4636 – Low June 2
SUP 2: A$1.4560 – 2014 Low May 15
SUP 3: A$1.4486 – High Nov 13 2013 now support
SUP 4: A$1.4318 – Low Nov 20 2013
