Recent hesitation ahead of the 2010 low has now resulted in a bounce that has so far remained capped ahead of layers of resistance in the $0.8209-35 region where the 21-DMA and falling daily trend line are located. Immediate focus remains on this region with bulls needing a close above $0.8235 to shift focus to the $0.8378-0.8469 region where the channel top is located. Bears need a close below $0.8155 to
reconfirm bearish focus.
RES 4: $0.8299 – High Dec 12
RES 3: $0.8235 – High Dec 17
RES 2: $0.8225 – 21-DMA
RES 1: $0.8209 – Falling daily trend line
LPRICE: $0.8185
SUP 1: $0.8155 – Hourly support Dec 30
SUP 2: $0.8068 – 2010 Low May 25 2010
SUP 3: $0.7931 – Trend line projection
SUP 4: $0.7900 – Long term falling daily channel base
The bounce from ahead of 2014 lows gathered steam Tuesday as the NZD/USD extended gains above the 21- DMA. The close marginally above the 55-DMA adds support to the bullish case with immediate focus now having shitted to the $0.7873-83 region where the falling daily trend line is located. Bears now need a close below $0.7799 to signal a false break of the 55-DMA and below $0.7763 to target the $0.7608-80 region.
RES 4: $0.7929 – High Nov 27
RES 3: $0.7883 – Falling daily trend line
RES 2: $0.7873 – High Dec 11
RES 1: $0.7850 – High Dec 30
LPRICE: $0.7830
SUP 1: $0.7799 – High Dec 29 now support
SUP 2: $0.7763 – Hourly resistance Dec 29 now support
SUP 3: $0.7737 – Hourly support Dec 26
SUP 4: $0.7679 – Low Dec 18
Pressure has resulted in fresh 2014 lows with bears remaining firmly focused on Fibonacci projections and the Bollinger band base. Layers of resistance continue to accumulate with bulls needing a close above $1.0529 to ease bearish pressure and shift focus to the NZ$1.0609-1.0698 region where the falling daily trend line and 21-DMA are located. The key concern for bears comes from O/S daily studies.
RES 4: NZ$1.0600 – High Dec 16
RES 3: NZ$1.0561 – High Dec 22
RES 2: NZ$1.0529 – High Dec 23
RES 1: NZ$1.0480 – High Dec 29
LPRICE: NZ$1.0450
SUP 1: NZ$1.0422 – 2014 Low Dec 29
SUP 2: NZ$1.0413 – 1.618 Fibonacci projection 1.1311-1.0756
SUP 3: NZ$1.0337 – Bollinger Band Base
SUP 4: NZ$1.0332 – 1.764 Fibonacci projection 1.1311-1.0756
The rally to start the new week has so far remained capped at the 55-DMA with the 21-DMA noted just below. Bulls now look for a close above the falling daily trend line to end bearish hopes and to shift immediate focus to the ¥99.49-87 region. The 100-DMA continues to support with bears needing a close below to provide breathing room and below ¥97.00 to shift immediate focus to the 200-DMA.
RES 4: ¥99.49 – High Dec 10
RES 3: ¥98.80 – High Dec 11, Falling daily trend line
RES 2: ¥98.36 – 55-DMA
RES 1: ¥98.26 – 21-DMA
LPRICE: ¥97.70
SUP 1: ¥97.47 – 100-DMA
SUP 2: ¥97.00 – Hourly support Dec 19
SUP 3: ¥96.73 – Alternating hourly support/resistance
SUP 4: ¥96.39 – 200-DMA
Recent sideways trading has resulted in a confirmation of a bearish bias with the pair extending losses below the 21-DMA. The break lower sees bears focused on the layers of support in the A$1.4442-1.4647 region where key DMAs and the rising daily trend line are located. Bulls now need a close above A$1.5018 to ease bearish pressure and above A$1.5123 to shift focus back to 2014 highs.
RES 4: A$1.5208 – High Dec 18
RES 3: A$1.5123 – Low Dec 17 now resistance
RES 2: A$1.5018 – High Dec 29
RES 1: A$1.4968 – 21-DMA
LPRICE: A$1.4951
SUP 1: A$1.4838 – Low Dec 9
SUP 2: A$1.4785 – 50.0% Fibonacci retracement 1.4237-1.5333
SUP 3: A$1.4662 – Bollinger band base
SUP 4: A$1.4656 – 61.8% Fibonacci retracement 1.4237-1.5333