The $0.9322 support confirmed its significance last week 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: $0.9468 – Hourly resistance July 2, Bollinger band top
RES 3: $0.9456 – High July 10
RES 2: $0.9411 – High July 18
RES 1: $0.9398 – 21-DMA
LPRICE: $0.9364
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
NZD/USD remained capped ahead of the $0.8730 resistance level to start the week following Friday bounce from the 55-DMA. 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 bearish 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, 100-DMA
SUP 4: $0.8593 – High May 21 now support
NZD/USD pulled back a little from Friday’s highs and ahead of layers of resistance noted in the NZ$1.0827-90 region including key moving averages, Fibonacci retracements, Bollinger band top & Ichimoku cloud base. Bears now look for a close below Monday’s low to confirm a break of the 100-DMA with a close below the 21-DMA needed to end bullish hopes and shift immediate focus back to the NZ$1.0623 July 10 low.
RES 4: NZ$1.0890 – Ichimoku cloud base
RES 3: NZ$1.0845 – 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$1.0790
SUP 1: NZ$1.0774 – Low July 21
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
AUD/JPY was unable to make headway topside to start the new week with the 55-DMA capping again. The 55-DMA remains initial resistance with bulls 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 Y95.96 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: Y95.52 – 21-DMA
RES 1: Y95.28 – 55-DMA
LPRICE: Y95.04
SUP 1: Y94.94 – Low July 21
SUP 2: Y94.54 – 21-WMA
SUP 3: Y94.35 – Falling wedge base
SUP 4: Y94.26 – Low June 2
Following the marginal close below the falling 21 day lower Bollinger band Friday EUR/AUD bounced a little to start the new 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 would see bears targeting Nov 2013 monthly lows at A$1.4051.
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$1.4477 – 21-DMA
LPRICE: A$1.4424
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
