The bounce from 2015 lows last week resulted in a bullish close just below the week’s highs and above the 21-DMA which suggests further topside for the pair. A close above $0.8218 is now needed to confirm a shift in immediate focus to the $0.8301-78 region where the falling daily channel base is located. Layers of support are accumulating with bears now needing a close below $0.8146 to shift immediate focus back to the 2015 low
RES 4: $0.8355 – Falling daily channel top
RES 3: $0.8301 – High Dec 12
RES 2: $0.8242 – Bollinger band top
RES 1: $0.8218 – High Dec 31
LPRICE: $0.8215
*SUP 1: $0.8146 – Hourly resistance Jan 9 now support
*SUP 2: $0.8082 – High Jan 7 now support
*SUP 3: $0.8032 – 2015 Low Jan 7
*SUP 4: $0.7962 – Low July 16 2009
The recovery from ahead of the 2014 low and below the Bollinger band base continued Friday with the NZD/USD pressuring key resistance in the $0.7860-73 region. Bulls continue to look for a close above $0.7873 to hint at further topside with above $0.7929 now needed to confirm a shift in focus to the $0.8039-96 region. Bears look for a close below $0.7762 to reconfirm bearish pressure and target 2014 lows.
RES 4: $0.7929 – High Nov 27
RES 3: $0.7915 – 100-DMA
RES 2: $0.7873 – High Dec 11
RES 1: $0.7860 – Falling daily trend line
LPRICE: $0.7845
*SUP 1: $0.7790 – Low Jan 9
*SUP 2: $0.7762 – Low Jan 8, 21-DMA
*SUP 3: $0.7713 – Low Jan 7
*SUP 4: $0.7679 – Low Jan 6
The bounce from 2015 and record lows Wednesday continued Friday with the AUD/NZD bouncing back to the 21-DMA with the falling daily trend line off Oct & Nov highs noted just above. The close above NZ$1.0434 eased bearish pressure a little but bulls now look for a close above NZ$1.0573 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$1.0508 – Falling daily trend line
RES 2: NZ$1.0499 – Hourly support Jan 6 now resistance
RES 1: NZ$1.0491 – 21-DMA
LPRICE: NZ$1.0455
SUP 1: NZ$1.0435 – High Jan 7 now support
SUP 2: NZ$1.0353 – 2015 & Record Low Jan 7
SUP 3: NZ$1.0262 – Falling daily trend line extension
SUP 4: NZ$1.0251 – 1.382 Fibonacci projection 1.0870-1.0422
The falling daily channel top off Nov & Dec highs confirmed its significance Friday with AUD/JPY remaining capped around this level following Wednesday’s bounce from weekly lows. Bulls need a close above the falling daily channel top to end bearish hopes and shift immediate focus back to the ¥98.35-80 region. Bears look for 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: ¥98.62 – Bollinger band top
RES 2: ¥98.35 – High Dec 29
RES 1: ¥97.60 – Falling daily channel top
LPRICE: ¥97.03
SUP 1: ¥96.77 – Hourly support Jan 8
SUP 2: ¥96.27 – Low Jan 8
SUP 3: ¥95.40 – 55-WMA
SUP 4: ¥95.23 – Monthly Low Dec 16
The sell-off continues for EUR/AUD having closed below the 100-DMA and marginally above the week’s lows on Friday. Key concerns for bears are seen coming from O/S daily studies and the Bollinger band base. Initial resistance is now noted at A$1.4559 with bulls needing a close above this level to confirm breaks back above 100 & 200-DMAs and an easing of bearish pressure. A close above A$1.4767 is needed to hint at a bigger bounce and to shift focus back to the 21-DMA (A$1.4913).
RES 4: A$1.4875 – High Dec 31
RES 3: A$1.4767 – High Jan 6
RES 2: A$1.4673 – 55-DMA
RES 1: A$1.4559 – High Jan 9
LPRICE: A$1.4435
SUP 1: A$1.4398 – Low Jan 9
SUP 2: A$1.4355 – 100-WMA
SUP 3: A$1.4217 – Monthly Low Oct 31
SUP 4: A$1.4184 – Low Sept 12