AUD/USD managed a spike above the 21-DMA Tuesday but has so far lacked follow through with the pair closing marginally below the 21-DMA ($0.9396). Bulls now look for a close above $.9422 to confirm bullish pressure with overall focus then returning to the 2014 high. Layers of support are noted in the $0.9322-56 region with bears needing a close below $0.9322 to shift overall focus back to the 200-DMA at $0.9195.
RES 4: $0.9468 – Hourly resistance July 2,
RES 3: $0.9464 – Bollinger band top
RES 2: $0.9456 – High July 10
RES 1: $0.9422 – High July 22
LPRICE: $0.9389
SUP 1: $0.9356 – 55-DMA
SUP 2: $0.9344 – Rising daily trend line
SUP 3: $0.9322 – Low June 18, 61.8% Fibo $0.9208-0.9505 *SUP 4: $0.9297 – 100-DMA
NZD/USD remains capped ahead of initial resistance level but remains supported ahead of the 55-DMA. Immediate focus remains on layers of support in the $0.8593-0.8651 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: $0.8785 – Hourly support July 15 now resistance
RES 3: $0.8771 – Hourly resistance July 15
RES 2: $0.8730 – Hourly resistance July 16
RES 1: $0.8719 – High July 21
LPRICE: $0.8665
SUP 1: $0.8651 – 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
Following the dip below the 100-DMA (NZ$1.0780) Monday AUD/NZD continues to work its way towards the 200-DMA with the Bollinger band top capping the move Tuesday. Layers of resistance are noted in the NZ$1.0851-1.0910 region and the proximity of the Bollinger band top may slow the move a little. In saying that, bears need a close below NZ$1.0824 to ease bullish pressure a little, and a close below the 100-DMA to hint at a deeper correction.
RES 4: NZ$1.0910 – Ichimoku cloud top
RES 3: NZ$1.0890 – Ichimoku cloud base
RES 2: NZ$1.0882 – 200-DMA
RES 1: NZ$1.0851 – Bollinger band top
LPRICE: NZ$1.0834
SUP 1: NZ$1.0824 – Hourly support July 22
SUP 2: NZ$1.0774 – Low July 21
SUP 3: NZ$1.0756 – High July 16 now support
SUP 4: NZ$1.0736 – 21-DMA
Time spent below the 100-DMA was brief with the Y94.92 support now seen as key with the 100-DMA and 21-WMA noted at this level and the Ichimoku cloud top marginally above at Y94.96. The spike above the 21-DMA lacked follow through Tuesday but immediate focus remains on the Y95.48-96 region with bears needing a close below Y94.92 to ease the bullish pressure and shift the immediate focus back to the Y94.26 support.
RES 4: Y96.22 – Bollinger band top
RES 3: Y96.18 – Hourly resistance July 2
RES 2: Y95.96 – High July 10
RES 1: Y95.48 – 21-DMA
LPRICE: Y95.31
SUP 1: Y94.92 – 100-DMA, 21-WMA
SUP 2: Y94.59 – Ichimoku cloud base
SUP 3: Y94.26 – Low June 2, Falling wedge base
SUP 4: Y93.78 – 200-DMA
EUR/AUD has followed up last week’s close below the 21-DMA with a continuation lower Tuesday that saw fresh 2014 and 8 month lows. The close well below the Bollinger band base (A$1.4374) is of some concern to bears and may slow the move while the Bolli catches up but the focus remains firmly on the A$1.4051 Nov 2013 monthly low. Bulls need a close above A$1.4385 to ease bearish pressure and above the 21-DMA to end bearish hopes
RES 4: A$1.4571 – Bollinger band top
RES 3: A$1.4472 – 21-DMA
RES 2: A$1.4447 – High July 22
RES 1: A$1.4385 – Previous hourly support now resistance
LPRICE: A$1.4330
SUP 1: A$1.4312 – 2014 Low July 22
SUP 2: A$1.4160 – Weekly Bollinger band base
SUP 3: A$1.4051 – Monthly Low Nov 7 2013
SUP 4: A$1.3861 – Monthly Low July 10 2013
