AUD/USD continues to work its way towards the 21 & 100-DMAs in the $0.9341-42 region with initial support remaining at $0.9288. Focus remains on layers of resistance $0.9341-74 and bulls continue to look for a close above $0.9374 to end bearish hopes and shift overall focus back to the 2014 highs. Bears need to see a close back below $0.9288 to reignite bearish pressure and shift focus to the $0.9176-0.9202 region with the 200-DMA at $0.9176
RES 4: $0.9452 – Bollinger band top
RES 3: $0.9425 – High July 25
RES 2: $0.9374 – High Aug 6
RES 1: $0.9342 – 21-DMA
LPRICE: $0.9316
SUP 1: $0.9288 – Low Aug 14
SUP 2: $0.9239 – Low Aug 8
SUP 3: $0.9229 – Monthly low June 3
SUP 4: $0.9202 – Monthly low May 2
Following Thursday’s close above the 200-DMA the NZD/USD found support at the 200-DMA Friday as daily studies correct from O/S levels. The $0.8535 resistance level remains key this week with bulls needing a close above to confirm a break of the 21-DMA and shift focus to the $0.8618-49 region where 55 & 100-DMAs are located. Bears look for a close below $0.8449 to confirm a break of the 200-DMA and reconfirm bearish focus
RES 4: $0.8649 – Previous daily low now resistance
RES 3: $0.8629 – 55-DMA
RES 2: $0.8589 – High July 25
RES 1: $0.8535 – High Aug 1
LPRICE: $0.8491
SUP 1: $0.8465 – 200-DMA
SUP 2: $0.8449 – Hourly support Aug 13
SUP 3: $0.8408 – Low Aug 12
SUP 4: $0.8402 – Monthly Low June 4
The previous two pullbacks from around the NZ$1.1050 level found support in the NZ$1.0924-30 region with the recent pullback from NZ$1.1025 now finding support ahead of the 21-DMA. The NZ$1.0924-50 region remains key support this week with bears needing a close below to end bullish hopes and shift focus back to key DMAs clustered NZ$1.0840-61. While NZ$1.0924 supports bulls will target 2014 highs and then the weekly channel top around NZ$1.1086.
RES 4: NZ$1.1086 – Weekly channel top
RES 3: NZ$1.1055 – 2014 high Aug 6
RES 2: NZ$1.1025 – High Aug 13
RES 1: NZ$1.1005 – Hourly resistance Aug 13
LPRICE: NZ$1.0975
SUP 1: NZ$1.0950 – 21-DMA
SUP 2: NZ$1.0924 – Low Aug 1
SUP 3: NZ$1.0860 – 55-DMA
SUP 4: NZ$1.0824 – Low July 23
The break back above Y95.00 Wednesday eased bearish pressure with the AUD/JPY spiking towards initial resistance Friday. Immediate remains on the Y95.85 level with bulls continuing to look for a close above to end bearish hopes and shift overall focus back to the 2014 high. Friday’s dip bounced from ahead of the Y94.96 support with bears needing a close below to regain control and shift overall focus back to the Y93.68-93 region.
RES 4: Y96.25 – Bollinger band top
RES 3: Y96.21 – High July 24
RES 2: Y95.93 – Falling trend line 2014 highs
RES 1: Y95.85 – High Aug 5
LPRICE: Y95.26
SUP 1: Y94.96 – Breakout level Aug 13 now support
SUP 2: Y94.53 – Low Aug 11
SUP 3: Y93.93 – 200-DMA
SUP 4: Y93.68 – Low May 29
After closing back below the 21-DMA (A$1.4363) on Thursday the EUR/AUD bounced back above to end the week marginally above on Friday. The A$1.4444-78 region remains key resistance for the pair this week with bulls needing a close above A$1.4478 to end bearish hopes and shift immediate focus to the A$1.4603 level which represents the June 3 high and the 100-DMA. While A$1.4478 caps bears initially target the 2014 low.
RES 4: A$1.4478 – High Aug 8
RES 3: A$1.4444 – Falling daily channel top
RES 2: A$1.4425 – High Aug 13
RES 1: A$1.4406 – High Aug 15
LPRICE: A$1.4367
SUP 1: A$1.4320 – Low Aug 14
SUP 2: A$1.4265 – Low July 25
SUP 3: A$1.4244 – Bollinger band base
SUP 4: A$1.4209 – 2014 Low July 24
