AUD/USD continues to work its way towards the 2014 low with fresh 8 month lows Tuesday. Bulls look for 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 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: $0.9114 – High Sept 16
RES 3: $0.9069 – Hourly resistance Sept 17
RES 2: $0.9003 – High Sept 19
RES 1: $0.8953 – High Sept 22
LPRICE: $0.8848
SUP 1: $0.8816 – Bollinger band base
SUP 2: $0.8694 – Low Jan 31
SUP 3: $0.8660 – 2014 Low Jan 24
SUP 4: $0.8317 – Monthly Low July 1 2010
Bearish pressure was reconfirmed Tuesday with the NZD/USD trading at fresh 2014 and 12 month lows. Immediate focus remains on the $0.7927-88 region where the falling daily channel base is noted with bulls continuing to look for a close above the 21-DMA to confirm an easing of bearish pressure and shift focus to the $0.8411-37 region. The Bollinger band base remains the key concern for bears.
RES 4: $0.8244 – 21-DMA
RES 3: $0.8230 – High Sept 16
RES 2: $0.8198 – Hourly resistance Sept 17
RES 1: $0.8098 – Previous hourly support now resistance
LPRICE: $0.8070
SUP 1: $0.8046 – 2014 Low Feb 4, Bollinger band base
SUP 2: $0.7988 – Falling daily channel base
SUP 3: $0.7927 – High Sept 4 2013 now support
SUP 4: $0.7855 – Low Sept 5 2013
AUD/NZD continues to find support at the 100-DMA, Ichimoku cloud top and Bollinger band base while remaining capped by the 55-DMA. Bears will continue to dominate until a close above NZ$1.1026 is seen which is needed to confirm an easing of bearish pressure. While the NZ$1.0995-1.1026 region caps bears favour a break of the 100-DMA that sees immediate focus shift to the NZ$1.0826-40 region where the 200-DMA is located
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$1.0995 – 55-DMA
LPRICE: NZ$1.0951
SUP 1: NZ$1.0923 – 100-DMA
SUP 2: NZ$1.0840 – 200-DMA
SUP 3: NZ$1.0826 – Low July 23
SUP 4: NZ$1.0767 – Low July 18
Following the failure at the Y98.00 level and the subsequent close back below the Y96.97, bearish pressure has emerged that has resulted in a dip below the 50.0% Fibo support and 55-DMA. Initial resistance is now noted at Tuesday’s high with bulls needing a close above to ease bearish pressure whereas a close above Y98.00 is needed to shift focus higher. While Y96.98 caps bears remain focused on the 100-DMA.
RES 4: Y98.58 – Bollinger band top
RES 3: Y98.34 – High Sept 11
RES 2: Y98.00 – Alternating hourly support/resistance
RES 1: Y96.98 – High Sept 23
LPRICE: Y96.37
SUP 1: Y96.25 – 55-DMA
SUP 2: Y95.80 – 100-DMA
SUP 3: Y95.75 – 61.8% Fibonacci 93.93-88.70
SUP 4: Y95.03 – Low Aug 15
After finding support at the 55-DMA Friday the EUR/AUD continued to rally Tuesday as it extended gains above the 100-DMA following the close above the 100-DMA Monday, the first since late Mar. Immediate focus remains on the A$1.4604 July monthly high with overall focus on the 200-DMA. Bears now need a close below A$1.4402 to ease bullish pressure and below the 55-DMA to hint at a deeper correction with below the 21-DMA then targeting 2014 lows.
RES 4: A$1.4804 – 200-DMA
RES 3: A$1.4756 – Monthly High June 2
RES 2: A$1.4604 – Monthly High July 3
RES 1: A$1.4561 – Bollinger band top
LPRICE: A$1.4537
SUP 1: A$1.4402 – Low Sept 23
SUP 2: A$1.4296 – 55-DMA
SUP 3: A$1.4218 – High Sept 11 now support
SUP 4: A$1.4146 – 21-DMA
