AUD/USD continues to work its way towards the 2014 low with fresh 6 month lows yet again Monday. Bulls now need to see a close above $0.9003 to ease bearish pressure and above $0.9114 to shift overall focus higher. Daily studies remain at O/S levels and the Bollinger band base ($0.8865) appears to be limiting follow through but immediate focus remains on 2014 lows. Below this level then sees focus shift to July 2010 monthly lows at $0.8317.
RES 4: $0.9069 – Hourly resistance Sept 17
RES 3: $0.9003 – High Sept 19
RES 2: $0.8953 – High Sept 22
RES 1: $0.8906 – Previous hourly support now resistance
LPRICE: $0.8876
SUP 1: $0.8853 – Low Sept 22
SUP 2: $0.8694 – Low Jan 31
SUP 3: $0.8660 – 2014 Low Jan 24
SUP 4: $0.8317 – Monthly Low July 1 2010
The failure ahead of the layers of resistance in the $0.8198-0.8284 region reconfirmed bearish pressure last week with bears initially targeting the $0.8000-51 region where the falling daily channel base and 2014 lows are located. Bulls continue to look for a close above the 21-DMA ($0.8259) to confirm a break of the channel top, an easing of bearish pressure and shift focus to the $0.8411-37 region
RES 4: $0.8353 – High Sept 4
RES 3: $0.8259 – 21-DMA
RES 2: $0.8230 – High Sept 16
RES 1: $0.8198 – Hourly resistance Sept 17
LPRICE: $0.8127
SUP 1: $0.8077 – Low Sept 18
SUP 2: $0.8051 – 2014 Low Feb 4
SUP 3: $0.8000 – Falling daily channel base
SUP 4: $0.7927 – High Sept 4 2013 now support
The sell-off continued for AUD/NZD Monday with the 55-DMA now seen as initial resistance. The pair is currently flirting with the 21-WMA (NZ$1.0924) and the 100-DMA (NZ$1.0920) with bears looking for a close below to add weight to the bearish case for a move that initially targets the NZ$1.0624 July monthly low. Bulls need a close above NZ$1.1026 to ease bearish pressure whereas a close above the 21-DMA would target 2014 highs.
RES 4: NZ$1.1127 – 21-DMA
RES 3: NZ$1.1105 – Hourly resistance Sept 12
RES 2: NZ$1.1026 – Hourly resistance Sept 19
RES 1: NZ$1.0990 – 55-DMA
LPRICE: NZ$1.0921
SUP 1: NZ$1.0839 – 200-DMA
SUP 2: NZ$1.0826 – Low July 23
SUP 3: NZ$1.0767 – Low July 18
SUP 4: NZ$1.0624 – Monthly Low July 10
Following the failure at the Y98.00 level and the subsequent close back below the Y96.97, bullish pressure has been eased with immediate focus shifting to the Y96.32 Fibo support with key DMAs just below. Bears look for a close below Y96.21 to reconfirm bearish pressure with potential for a continuation lower that targets the 200-DMA (Y94.45). Bulls now need a close above Y98.00 to regain control and target 2014 highs.
RES 4: Y98.70 – 2014 High Sept 5
RES 3: Y98.52 – Bollinger band top
RES 2: Y98.34 – High Sept 11
RES 1: Y98.00 – Alternating hourly support/resistance
LPRICE: Y97.31
SUP 1: Y96.32 – 50.0% Fibonacci 93.93-88.70
SUP 2: Y96.21 – 55-DMA
SUP 3: Y95.80 – 100-DMA
SUP 4: Y95.75 – 61.8% Fibonacci 93.93-88.70
After finding support at the 55-DMA Friday the EUR/AUD continued to rally Monday with the close above the 100-DMA the first since late Mar. Immediate focus shifts to the A$1.4604 July monthly high with overall focus having turned to the 200-DMA. Bears continue to look for a close below the 55-DMA to ease bullish pressure whereas a close below the 100-DMA is needed to reconfirm bearish pressure and target 2014 lows.
RES 4: A$1.4809 – 200-DMA
RES 3: A$1.4756 – Monthly High June 2
RES 2: A$1.4604 – Monthly High July 3
RES 1: A$1.4507 – Bollinger band top
LPRICE: A$1.4467
SUP 1: A$1.4353 – Low Sept 22
SUP 2: A$1.4295 – 55-DMA
SUP 3: A$1.4218 – High Sept 11 now support
SUP 4: A$1.4146 – 21-DMA
