After failing at the 21-DMA Wednesday the AUD/USD remained capped ahead of this level Thursday before trading at fresh 2 month lows and remaining heavy thanks to a relatively bearish close. Immediate focus remains on the $0.9181-0.9202 region where the 200-DMA is located. Bulls need a close above $0.9292 to ease bearish pressure a little whereas a close above $0.9374 is needed to confirm a break of 21 & 55-DMAs and shift focus to 2014 highs.
RES 4: $0.9425 – High July 25
RES 3: $0.9374 – High Aug 6
RES 2: $0.9367 – 21-DMA
RES 1: $0.9292 – Low Aug 6 now resistance
LPRICE: $0.9267
SUP 1: $0.9259 – Low Aug 7
SUP 2: $0.9229 – Monthly low June 3
SUP 3: $0.9202 – Monthly low May 2
SUP 4: $0.9181 – 200-DMA
NZD/USD is yet to manage a close below the 200-DMA with the pair again bouncing from a dip below on Thursday. Bears need a close below June monthly lows to add weight to the bearish case and target 2014 lows. Initial resistance remains at $0.8496 but bulls still need a close above $0.8537 to shift focus back to key moving averages clustered $0.8617-0.8630. Overall a close above $0.8649 is needed to shift focus back to 2014 highs.
RES 4: $0.8649 – Low July 18 now resistance
RES 3: $0.8589 – High July 25
RES 2: $0.8537 – High Aug 1
RES 1: $0.8496 – Low Aug 4 now resistance
LPRICE: $0.8480
SUP 1: $0.8452 – Low Aug 7
SUP 2: $0.8422 – Low Aug 6
SUP 3: $0.8402 – Monthly Low June 4
SUP 4: $0.8342 – Monthly Low Mar 3
The close below NZ$1.0982 has confirmed an easing of bullish pressure with the AUD/ZND now pressuring the NZ$1.0924 support. Bears now need a close below this support to end bullish hopes and shift focus to the 21, 55, 100 & 200-DMAs clustered in the NZ$1.0822-1.0870 region with a close below NZ$1.0822 then seeing 2014 lows targeted once more. Bulls need the NZ$1.0924 support to hold and a close above NZ$1.1012 to shift focus topside again.
RES 4: NZ$1.1072 – High Dec 6 2013
RES 3: NZ$1.1055 – 2014 high Aug 6
RES 2: NZ$1.1012 – Previous hourly support now resistance
RES 1: NZ$1.0963 – Hourly resistance Aug 7
LPRICE: NZ$1.0937
SUP 1: NZ$1.0924 – Low Aug 1
SUP 2: NZ$1.0860 – 200-DMA
SUP 3: NZ$1.0924 – Low Aug 1
SUP 4: NZ$1.0860 – 200-DMA
After looking a little heavy heading into Thursday the AUD/JPY has broken sharply lower with immediate bearish focus having shifted to the Y93.70-94.39 support region with the 200-DMA noted at Y93.88. Layers of resistance have developed in the Y94.91-95.85 region with bulls needing a close above Y95.13 to ease bearish pressure whereas a close above Y95.85 remains needed to shift overall focus back to 2014 highs
RES 4: Y95.85 – High Aug 5
RES 3: Y95.57 – High Aug 6
RES 2: Y95.13 – Low Aug 6 now resistance
RES 1: Y94.91 – Hourly resistance Aug 7
LPRICE: Y94.64
SUP 1: Y94.39 – Monthly Low July 18
SUP 2: Y93.88 – 200-DMA
SUP 3: Y93.70 – Low May 29
SUP 4: Y93.12 – 55-WMA
EUR/AUD bounced Thursday from ahead of the A$1.4265 support level with the rally seeing the pair close above the 21-DMA (A$1.4385) and falling daily channel top although remaining capped at the A$1.4447 resistance level. Bulls continue to look for a close above the 55-DMA to confirm a break higher, providing bulls with breathing room and seeing immediate focus shift to the A$1.4604-40 region. While the 55-DMA caps bears hold out hope for 2014 lows.
RES 4: A$1.4640 – 100-DMA
RES 3: A$1.4604 – Monthly High July 3
RES 2: A$1.4482 – 55-DMA
RES 1: A$1.4447 – High Aug 1 & 7
LPRICE: A$1.4410
SUP 1: A$1.4302 – Low Aug 7
SUP 2: A$1.4265 – Low July 25
SUP 3: A$1.4209 – 2014 Low July 24
SUP 4: A$1.4051 – Monthly Low Nov 7 2013
