Fresh 2014 and 4 ½ year lows see the AUD/USD hovering precariously above 2010 lows with O/S daily studies and the Bollinger band base key concerns for bears. In saying that, bears remain focused on the $0.7960-0.8068 region where 2010 lows and the falling daily channel bases are located. Bulls need a close above $0.8235 to confirm a break of the channel top and ease bearish pressure and above $0.8299 to shift focus to the $0.8376-0.8469 region.
RES 4: $0.8299 – High Dec 12
RES 3: $0.8235 – High Dec 17
RES 2: $0.8178 – High Dec 18, Short term falling daily channel top
RES 1: $0.8175 – High Dec 22
LPRICE: $0.8119
SUP 1: $0.8068 – 2010 Low May 25 2010
SUP 2: $0.8028 – Bollinger band base
SUP 3: $0.7974 – Short term falling daily channel base
SUP 4: $0.7960 – Longer term falling daily channel base
Bears remain focused on the $0.7609 2014 low following repeated recent failures ahead of the $0.7807 initial resistance with the Bollinger band base ($0.7651) seen as the key concern. The $0.7808-25 resistance region remains key with bulls needing a close above to ease bearish pressure. Above $0.7869 is then needed to end bearish hopes and shift focus so the $0.7897-0.8039 region with the 100-DMA at
$0.8003.
RES 4: $0.7869 – High Dec 11
RES 3: $0.7848 – High Dec 16
RES 2: $0.7825 – Falling daily trend line Nov-Dec
RES 1: $0.7808 – High Dec 17
PRICE: $0.7707
SUP 1: $0.7679 – Low Dec 18
SUP 2: $0.7660 – Low Dec 10
SUP 3: $0.7609 – 2014 Low Dec 9
SUP 4: $0.7461 – 2012 Low May 23 2012
Hesitation ahead of last week’s 2014 low continues with the bounces providing bulls with a glimmer of hope. O/S daily studies and the Bollinger band base remain concerns for bears but a close above NZ$1.0600 remains needed to ease bearish pressure and above NZ$1.0649 to shift focus to the key NZ$1.0758-1.0938 region. While NZ$1.0600 caps bears remain focused on fresh 2014 lows and the
Fibonacci projections below
RES 4: NZ$1.0698 – High Dec 11
RES 3: NZ$1.0649 – High Dec 15
RES 2: NZ$1.0600 – High Dec 16
RES 1: NZ$1.0561 – High Dec 22
LPRICE: NZ$1.0515
SUP 1: NZ$1.0473 – 2014 Low Dec 18
SUP 2: NZ$1.0415 – Bollinger band base
SUP 3: NZ$1.0413 – 1.618 Fibonacci projection 1.1311-1.0756
SUP 4: NZ$1.0332 – 1.764 Fibonacci projection 1.1311-1.0756
As daily studies slowly correct from O/S levels the aussie-yen continues to trade sideways within a ¥97.00-98.02 range. Bulls need a close above ¥98.02 to confirm an easing of bearish pressure and shift focus back to the ¥99.49-87 region. Initial support is noted ¥96.73-00 with bears needing a close below to reconfirm bearish focus and target Oct monthly lows with a close below the 200-DMA needed to add weight to the bearish case
RES 4: ¥99.49 – High Dec 10
RES 3: ¥98.93 – 21-DMA
RES 2: ¥98.80 – High Dec 11
RES 1: ¥98.02 – High Dec 15, 55-DMA
LPRICE: ¥97.74
SUP 1: ¥97.00 – Hourly support Dec 19
SUP 2: ¥96.73 – Alternating hourly support/resistance
SUP 3: ¥96.22 – 200-DMA
SUP 4: ¥95.23 – Low Dec 16
The bounce from initial support Tuesday stalled at the A$1.5123 resistance level before dipping back towards initial support. Bulls now need a close above A$1.5123 to ease the current bearish pressure that is favouring a break lower which then hints at a move back to the A$1.4403-1.4603 region where key DMAs are located. Bears will also look for a close below the 21-DMA to confirm a shift lower in focus
RES 4: A$1.5371 – High Mar 18
RES 3: A$1.5333 – High Dec 17
RES 2: A$1.5208 – High Dec 18
RES 1: A$1.5123 – Low Dec 17 now resistance
LPRICE: A$1.5047
SUP 1: A$1.4968 – Low Dec 12
SUP 2: A$1.4914 – 38.2% Fibonacci retracement 1.4237-1.5333
SUP 3: A$1.4909 – Low Dec 11
SUP 4: A$1.4891 – 21-DMA