The recent failure at the 21-DMA ($0.8155) resulted in fresh 2015 and 5+ year lows with the Bollinger base limiting downside follow through. Layers of resistance continue to accumulate with bulls needing a close above $0.8158 to confirm a break of the 21-DMA and an easing of bearish pressure. Overall bulls look for a close above $0.8238 to shift focus to the falling daily channel top at $0.8358. While the 21-DMA caps bears target the channel base.
RES 4: $0.8218 – High Dec 31
RES 3: $0.8158 – High Jan 6
RES 2: $0.8102 – Hourly support Jan 6 now resistance
RES 1: $0.8082 – High Jan 7
LPRICE: $0.8070
SUP 1: $0.8032 – 2015 Low Jan 7
SUP 2: $0.8024 – Bollinger band base
SUP 3: $0.7962 – Low July 16 2009
SUP 4: $0.7828 – Falling daily channel base
NZD/USD continues to find support on dips and bounce back towards layers of resistance noted $0.7814-0.7873 including the Bollinger top & channel top. Layers of support have accumulated with bears now needing a close back below $0.7713 to confirm a break back below the 21-DMA and to shift focus back to the 2014 low. Bulls need a close above $0.7873 to hint at further topside with above the 100-DMA
confirming.
RES 4: $0.7873 – High Dec 11
RES 3: $0.7850 – High Dec 30
RES 2: $0.7842 – Bollinger band top
RES 1: $0.7814 – High Jan 1
PRICE: $0.7780
SUP 1: $0.7713 – Low Jan 7
SUP 2: $0.7679 – Low Jan 6, Bollinger band base
SUP 3: $0.7609 – 2014 Low Dec 9
SUP 4: $0.7461 – 2012 Low May 23 2012
Fresh 2015 and record lows continue for the pair with the Bollinger band base (NZ$1.0386) limiting downside follow through. Initial resistance is now noted at Wednesday’s high with bull snow needing a close above this level to ease bearish pressure. Overall a close above NZ$1.0573 remains needed to confirm a break of the 21-DMA and to shift immediate focus back to the NZ$1.0698-1.0758 region.
RES 4: NZ$1.0541 – High Jan 6
RES 3: NZ$1.0499 – Hourly support Jan 6 now resistance
RES 2: NZ$1.0466 – Alternating hourly support/resistance
RES 1: NZ$1.0435 – High Jan 7
LPRICE: NZ$1.0377
SUP 1: NZ$1.0353 – 2015 & Record Low Jan 7
SUP 2: NZ$1.0288 – Falling daily channel base
SUP 3: NZ$1.0251 – 1.382 Fibonacci projection 1.0870-1.0422
SUP 4: NZ$1.0198 – 1.500 Fibonacci projection 1.0870-1.0422
Pressure on the 200-DMA resulted in a break below Tuesday with the Bollinger band base currently limiting follow through. Closes below the 200-DMA (Y96.45) add weight to the bearish case and see focus on layers of support in the Y94.74-95.40 region where key WMAs are located. Bulls continue to look for a close back above Y97.30 to ease bearish pressure and shift focus back to the key Y98.35-80 region where the 55-DMA is located.
RES 4: ¥98.35 – High Dec 29
RES 3: ¥97.66 – Hourly resistance Jan 2
RES 2: ¥97.30 – Hourly resistance Jan 5
RES 1: ¥96.53 – Hourly support Jan 6 now resistance
LPRICE: ¥96.11
SUP 1: ¥95.78 – Bollinger band base
SUP 2: ¥95.40 – 55-WMA
SUP 3: ¥95.23 – Monthly Low Dec 16
SUP 4: ¥94.94 – 100-WMA
O/S daily studies and the Bollinger band base are seen as key concerns for bears following the correction from Dec monthly highs with immediate focus on the layers of support in the A$1.4428-1.4550 region where key DMAs and channel bases are located. Layers of resistance remain with bulls now needing a close above A$1.4792 to ease bearish pressure and above A$1.5018 to confirm a break of the 21-DMA and to shift focus back to the Dec monthly high
RES 4: A$1.4922 – Low Dec 29 now resistance
RES 3: A$1.4875 – High Dec 31
RES 2: A$1.4792 – Falling daily channel top
RES 1: A$1.4767 – High Jan 6
LPRICE: A$1.4670
SUP 1: A$1.4550 – 200-DMA
SUP 2: A$1.4513 – 100-DMA
SUP 3: A$1.4490 – Rising daily channel base
SUP 4: A$1.4428 – Low Nov 25