The bounce from the Bollinger band base and fresh 2015 and 5+ year lows has seen focus return to the key $0.8158-0.8218 resistance region. Bulls continue to look for a close above $0.8158 to confirm an easing of bearish pressure with above $0.8218 now needed to shift focus back to the $0.8346-78 region where the falling daily channel top is located. While $0.8158 caps bears remain focused on fresh 2015 lows
and the channel base overall.
RES 4: $0.8301 – High Dec 12
RES 3: $0.8255 – Bollinger band top
RES 2: $0.8218 – High Dec 31
RES 1: $0.8158 – High Jan 6
LPRICE: $0.8112
SUP 1: $0.8082 – High Jan 7 now support
SUP 2: $0.8032 – 2015 Low Jan 7
SUP 3: $0.7962 – Low July 16 2009
SUP 4: $0.7817 – Falling daily channel base
The recovery from ahead of the 2014 low and below the Bollinger band base continued Thursday with the NZD/USD currently remaining capped ahead of layers of resistance in the $0.7832-73 region. Bulls continue to look for a close above $0.7873 to hint at further topside with above the 100-DMA confirming a shift in focus to the $0.8039-96 region. Bears now need a close below $0.7762 to reconfirm bearish pressure and target 2014 lows.
RES 4: $0.7873 – High Dec 11
RES 3: $0.7863 – Falling daily trend line
RES 2: $0.7850 – High Dec 30
RES 1: $0.7832 – Bollinger band top
LPRICE: $0.7807
SUP 1: $0.7762 – Low Jan 8, 21-DMA
SUP 2: $0.7713 – Low Jan 7
SUP 3: $0.7679 – Low Jan 6
SUP 4: $0.7609 – 2014 Low Dec 9
Fresh 2015 and record lows Wednesday continue to see the Bollinger band base (NZ$1.0379) limiting downside follow through. Initial resistance remains at NZ$1.0435 with bulls now 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 falling daily trend line and to shift immediate focus back to the NZ$1.0698-1.0758 region.
RES 4: NZ$1.0573 – High Jan 5
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$1.0382
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
Time spent below the 200-DMA has been brief with the pair bouncing from the Bollinger band base to pressure layers of resistance in the ¥97.30-74 region including the 100-DMA and channel top. Bulls now need a close above the falling daily channel top to end bearish hopes and shift immediate focus back to the ¥98.38-80 region. Bears now need a close below ¥96.27 to reconfirm immediate focus on the Dec monthly low at ¥95.23.
RES 4: ¥98.80 – High Dec 11
RES 3: ¥98.35 – High Dec 29
RES 2: ¥97.74 – Falling daily channel top
RES 1: ¥97.30 – Hourly resistance Jan 5
PRICE: ¥97.05
SUP 1: ¥96.27 – Low Jan 8
SUP 2: ¥95.81 – Bollinger band base
SUP 3: ¥95.40 – 55-WMA
SUP 4: ¥95.23 – Monthly Low Dec 16
The sell-off continues for the pair with it currently flirting with 100 & 200-DMAs and 21-WMA and having found support at the rising daily channel base, 21-WMA and Bollinger band base. Initial resistance is now noted at the 55-DMA with bulls needing a close above to ease bearish pressure and above A$1.4767 to shift focus back to the A$1.4922-1.5018 region. Bears now look for a close below A$1.4428 to confirm
breaks of key supports with the Bollinger base and O/S daily studies concerns for bears
RES 4: A$1.4922 – Low Dec 29 now resistance
RES 3: A$1.4875 – High Dec 31
RES 2: A$1.4767 – High Jan 6
RES 1: A$1.4673 – 55-DMA
LPRICE: A$1.4530
SUP 1: A$1.4490 – Rising daily channel base, Bollinger band base
SUP 2: A$1.4428 – Low Nov 25
SUP 3: A$1.4356 – 100-DMA
SUP 4: A$1.4217 – Monthly Low Oct 31