The $0.9322 support confirmed its significance last with the AUD/USD having bounced from ahead of this level on Wednesday and Friday. Friday’s bounce marginally traded above the previous $0.9408 high before struggling around the 21-DMA ($0.9398). Bulls need a close above $0.9411 to confirm an easing of bearish pressure and hint at a retest of 2014 highs. Bears continue to look for a close below $0.9322 to shift focus back to the 200-DMA.
RES 4: $0.9505 – 2014 High July 1
RES 3: $0.9468 – Hourly resistance July 2, Bollinger band top
RES 2: $0.9456 – High July 10
RES 1: $0.9411 – High July 18
LPRICE: $0.9393
SUP 1: $0.9322 – Low June 18, 61.8% Fibo $0.9208-0.9505
SUP 2: $0.9288 – 100-DMA
SUP 3: $0.9229 – Monthly low June 3
SUP 4: $0.9196 – 200-DMA
The sell-off continued Friday before the NZD/USD found support around the 55-DMA and just ahead of the June 17 low. Immediate focus remains on layers of support in the $0.8593-0.8652 region which includes key moving averages and Fibonacci retracements. Bulls continue to look for a close back above $0.8730 to ease bear pressure with a close above $0.8785 needed to confirm a break of the 21-DMA and target fresh 2014 highs once again.
RES 4: $0.8835 – 2014 High July 10
RES 3: $0.8785 – Hourly support July 15 now resistance
RES 2: $0.8771 – Hourly resistance July 15
RES 1: $0.8730 – Hourly resistance July 16
LPRICE: $0.8691
SUP 1: $0.8652 – 55-DMA
SUP 2: $0.8642 – Low June 17
SUP 3: $0.8623 – 50.0% Fibonacci 0.8413-0.8835
SUP 4: $0.8615 – 100-DMA
AUD/NZD made headway topside to end the week following Wednesday’s close above the 21-DMA with the 100-DMA now seen as initial support. Layers of resistance now remain in the NZ$1.0827-1.0862 region including key moving averages, Fibonacci retracements, Bollinger band top & Ichimoku cloud base. Bears need to see a close below the 100-DMA to ease bullish pressure and a close below the 21-DMA to shift focus back to 2014 lows
RES 4: NZ$1.0862 – Ichimoku cloud base
RES 3: NZ$1.0846 – Bollinger band top
RES 2: NZ$1.0837 – High July 2
RES 1: NZ$1.0827 – 50.0% Fibonacci NZ$1.1030-1.0624
LPRICE: NZ$1.0799
SUP 1: NZ$1.0777 – 100-DMA
SUP 2: NZ$1.0756 – High July 16 now support
SUP 3: NZ$1.0735 – 21-DMA
SUP 4: NZ$1.0700 – Previous daily resistance now support
Fresh lows for the week Friday before AUD/JPY bounced from the falling wedge base to record a relatively bullish close. The 55-DMA remains initial resistance with bulls now needing a close above to confirm an easing of bearish pressure and shift immediate focus to the Y95.96 July 10 high. Overall bulls need a close above this level to confirm a break of the 21-DMA and target 2014 highs. While the 55-DMA caps bears target retests of the Y94.26-54 region.
RES 4: Y96.18 – Hourly resistance July 2
RES 3: Y95.96 – High July 10
RES 2: Y95.55 – 21-DMA
RES 1: Y95.27 – 55-DMA
LPRICE: Y95.15
SUP 1: Y94.54 – 21-WMA
SUP 2: Y94.40 – Falling wedge base
SUP 3: Y94.26 – Low June 2
SUP 4: Y93.75 – 200-DMA
After having oscillated around the 21-DMA for the past two weeks the EUR/AUD managed a close below on Tuesday with the move lower gaining momentum in the latter half of the week. Immediate focus remains on the 2014 low with bulls needing a close above the 21-DMA to confirm an easing of bearish pressure. Overall bulls look for a close above A$1.4602 to end bearish hopes. Fresh 2014 lows see bears targeting Nov 2013 monthly lows.
RES 4: A$1.4602 – High July 3
RES 3: A$1.4597 – 55-DMA
RES 2: A$1.4556 – Bollinger band top
RES 1: A$1.4480 – 21-DMA
LPRICE: A$1.4395
SUP 1: A$1.4359 – 2014 Low June 12
SUP 2: A$1.4318 – Low Nov 20 2013
SUP 3: A$1.4051 – Monthly Low Nov 7 2013
SUP 4: A$1.3861 – Monthly Low July 10 2013
