The recovery from 2014 lows continues to hesitate around the 21-DMA with bulls looking for a close above $0.8235 to confirm a break of the 21-DMA and shift focus to the $0.8378-0.8492 region where the falling channel top and 55-DMA are located. Bears now need a close back below $0.8155 to reconfirm the bearish bias and to shift immediate focus to the $0.8042-88 region. Overall focus then returns to the falling daily channel base around $0.7878
RES 4: $0.8378 – High Dec 11
RES 3: $0.8299 – High Dec 12
RES 2: $0.8235 – High Dec 17
RES 1: $0.8201 – 21-DMA
LPRICE: $0.8170
SUP 1: $0.8155 – Low Dec 30
SUP 2: $0.8088 – 2014 Low Dec 23
SUP 3: $0.8068 – 2010 Low May 25 2010
SUP 4: $0.8042 – Bollinger band base
The bounce from ahead of 2014 lows has run into resistance at the $0.7850 level with the $0.7850-73 region seen as key today. Bulls need a close above this region to confirm a break of the falling daily trend line and a bullish bias that sees immediate focus shift to the $0.7929-0.8039 region where the 100-DMA is located. Bears look for a close below the 21-DMA to shift focus back to 2014 low
RES 4: $0.7955 – 100-DMA
RES 3: $0.7929 – High Nov 27
RES 2: $0.7873 – High Dec 11, Falling daily trend line
RES 1: $0.7850 – High Dec 30
LPRICE: $0.7790
SUP 1: $0.7763 – Hourly resistance Dec 29 now support
SUP 2: $0.7755 – 21-DMA
SUP 3: $0.7737 – Hourly support Dec 26
SUP 4: $0.7679 – Low Dec 18
Pressure resulted in fresh 2014 lows earlier in the week with bears focused on Fibonacci projections and the Bollinger band base. Layers of resistance continue to accumulate with bulls now needing a close above the 21-DMA to ease bearish pressure and shift focus to the NZ$1.0698-1.0758 region. The key concern for
bears comes from O/S daily studies
RES 4: NZ$1.0600 – High Dec 16
RES 3: NZ$1.0575 – 21-DMA
RES 2: NZ$1.0561 – High Dec 22
RES 1: NZ$1.0529 – High Dec 23
LPRICE: NZ$1.0470
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
AUD/JPY continues to flirt with the 21-DMA with the 55-DMA and falling daily trend line just above. Bulls now look for a close above ¥98.80 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 and overall focus to 2014 lows
RES 4: ¥99.49 – High Dec 10
RES 3: ¥98.80 – High Dec 11
RES 2: ¥98.53 – 55-DMA
RES 1: ¥98.00 – 21-DMA
LPRICE: ¥97.85
SUP 1: ¥97.47 – 100-DMA
SUP 2: ¥97.00 – Hourly support Dec 19
SUP 3: ¥96.73 – Alternating hourly support/resistance
SUP 4: ¥96.43 – 200-DMA
Recent sideways trading has resulted in a confirmation of a bearish bias with EUR/AUD extending losses below the 21-DMA. The break lower sees bears focused on the layers of support in the A$1.4442-1.4656 region where key DMAs and the rising daily trend line are located. Bulls now need a close above A$1.4900 to ease bearish pressure and above A$1.5018 to shift focus back to 2014 highs.
RES 4: A$1.5123 – Low Dec 17 now resistance
RES 3: A$1.5018 – High Dec 29
RES 2: A$1.4982 – 21-DMA
RES 1: A$1.4900 – Falling daily channel top
LPRICE: A$1.4795
SUP 1: A$1.4741 – Low Dec 5
SUP 2: A$1.4689 – Bollinger band base
SUP 3: A$1.4656 – 61.8% Fibonacci retracement 1.4237-1.5333, 55-DMA
SUP 4: A$1.4584 – Falling daily channel base