The attempted recovery for the AUD/USD was short lived with the fresh 2014 and 4 year lows combined with a relatively bearish close reconfirming bearish dominance. Bulls will need to see a close above last week’s $0.8831 to confirm an easing of bearish pressure and above the 21-DMA ($0.8952) needed to end bearish hopes and shift focus to the 200-DMA. Bears now target the $0.8068-0.8317 region
RES 4: $0.8927 – High Sept 23
RES 3: $0.8897 – High Sept 24
RES 2: $0.8831 – Low Sept 23 now resistance
RES 1: $0.8768 – Alternating hourly support resistance
LPRICE: $0.8659
SUP 1: $0.8643 – 2014 Low Oct 3
SUP 2: $0.8567 – Bollinger band base
SUP 3: $0.8317 – Monthly Low July 1 2010
SUP 4: $0.8068 – 2010 Low May 25 2010
The $0.7968 region confirmed its significance last week with the bounce from fresh 2014 lows capped ahead of this level. Bulls will continue to look for a close above $0.7968 to confirm an easing of bearing pressure and see immediate focus shift to the 21-DMA. Bears remain firmly focused on the $0.7682-0.7713 region where the 2013 low is located.
RES 4: $0.8059 – 21-DMA
RES 3: $0.8041 – Low Sept 23 now resistance
RES 2: $0.7968 – Hourly resistance Sept 25
RES 1: $0.7835 – Alternating hourly support/resistance
LPRICE: $0.7901
SUP 1: $0.7713 – Monthly Low Aug 30 2013
SUP 2: $0.7709 – Bollinger band base
SUP 3: $0.7682 – 2013 Low June 24 2013
SUP 4: $0.7617 – Low June 8 2012
The 5 consecutive days of solid gains came to an end Tuesday with the AUD/NZD pulling back from ahead of 2014 highs before Wednesday’s sell-off eased bullish pressure and confirmed the significance of the NZ$1.1097-1.1115 support region. Bears now need a close below NZ$1.1097 to confirm a break of the 21-DMA and see immediate focus shift to the NZ$1.0927 Sept monthly low. Bulls continue to target 2014 highs while NZ$1.1097 supports.
RES 4: NZ$1.1313 – High Nov 20 2013
RES 3: NZ$1.1297 – 2014 High Sept 5
RES 2: NZ$1.1286 – High Sept 29
RES 1: NZ$1.1193 – Hourly resistance Oct 3
LPRICE: NZ$1.1170
SUP 1: NZ$1.1108 – 21-DMA
SUP 2: NZ$1.1097 – Low Sept 29
SUP 3: NZ$1.1063 – Hourly support Sept 25
SUP 4: NZ$1.0980 – Low Sept 25
After recently remaining capped ahead of the Y96.98 level Thursday’s sell-off saw the AUD/JPY close below both 55 & 100-DMAs with immediate focus having shifted to the 200-DMA at Y94.58. Bulls need a close above Y96.08 to ease bearish pressure a little whereas a close above Y96.98 is now needed to shift focus back to 2014 highs. Key concerns for bears are seen coming from O/S studies and the Bollinger band base (Y94.70).
RES 4: Y98.00 – Alternating hourly support/resistance
RES 3: Y96.98 – High Sept 23
RES 2: Y96.75 – 21-DMA
RES 1: Y96.08 – Low Sept 24 now resistance
LPRICE: Y95.20
SUP 1: Y94.88 – Low Oct 2
SUP 2: Y94.58 – 200-DMA
SUP 3: Y93.93 – Monthly low Aug 8
SUP 4: Y93.70 – Low May 29
Recent failures ahead of the A$1.4604 July monthly high have now resulted in oscillation around the 100-DMA with immediate focus now having shifted to the 21-DMA. Bears need a close below the 21-DMA to end bullish hopes and shift overall focus back to the 2014 low. Bulls now need a close back above $1.4468 to gain some breathing room and above A$1.4604 to reconfirm bullish pressure
RES 4: A$1.4756 – Monthly High June 2
RES 3: A$1.4731 – Bollinger band top
RES 2: A$1.4604 – Monthly High July 3
RES 1: A$1.4468 – High Oct 2
LPRICE: A$1.4425
SUP 1: A$1.4321 – 21-DMA
SUP 2: A$1.4293 – 55-DMA
SUP 3: A$1.4239 – Low Sept 16
SUP 4: A$1.4222 – Alternating daily support/resistance
