AUD/USD continues to find support marginally below the 21-DMA ($0.8137) following Monday’s pullback from 2015 highs with bears needing a close below $0.8128 to reconfirm a bearish bias. A close below $0.8128 shifts immediate focus back to 2015 lows and overall focus to the falling daily channel base around $0.7881 today. Bulls now look for a close above $0.8198 to provide breathing space and target the falling
daily channel top ($0.8311).
RES 4: $0.8301 – High Dec 12
RES 3: $0.8255 – 2015 High Jan 12
RES 2: $0.8219 – Bollinger band top
RES 1: $0.8198 – High Jan 13
LPRICE: $0.8156
SUP 1: $0.8128 – Low Jan 13
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 $0.7873 resistance level confirmed its significance to start the new week with it capping the attempt to make headway above the falling daily channel and Bollinger band tops. The sell-off gained momentum below the 21-DMA ($0.7761) on Tuesday with bearish focus reconfirmed and bears now targeting the 2014 low. Bulls now need a close above $0.7802 to shift focus back to the $0.7873 level with the Bollinger bands seen as key concerns
RES 4: $0.7904 – 100-DMA
RES 3: $0.7873 – High Dec 11
RES 2: $0.7852 – Bollinger band top
RES 1: $0.7802 – High Jan 13
LPRICE: $0.7717
SUP 1: $0.7712 – Low Jan 13
SUP 2: $0.7679 – Low Jan 6
SUP 3: $0.7673 – Bollinger band base
SUP 4: $0.7609 – 2014 Low Dec 9
AUD/NZD found support marginally below the 21-DMA (NZ$1.0484) on Tuesday before bouncing to pressure the 2015 high with the Bollinger band just above seen as the key concern for bulls. Layers of support have started to develop with bears needing a close below NZ$1.0518 to ease bullish pressure and below NZ$1.0476 to confirm a break of the 21-DMA and shift immediate focus back to 2015 lows. Above
NZ$1.0573 targets NZ$1.0698-1.0758 with the 55-DMA just above at NZ$1.0775.
RES 4: NZ$1.0651 – High Dec 15
RES 3: NZ$1.0609 – High Dec 17
RES 2: NZ$1.0580 – Bollinger band top
RES 1: NZ$1.0573 – 2015 High Jan 5
LPRICE: NZ$1.0567
SUP 1: NZ$1.0518 – High Jan 7 now support
SUP 2: NZ$1.0476 – Low Jan 13
SUP 3: NZ$1.0435 – High Jan 7 now support
SUP 4: NZ$1.0353 – 2015 & Record Low Jan 7
Friday’s rejection from around the 100-DMA (¥97.54) and falling daily channel top resulted in further losses Tuesday with pressure having returned to the ¥95.64 Jan 7 low and Bollinger band base. Below ¥95.64 shifts immediate focus to the Dec monthly low and overall focus to the falling daily channel base (¥92.28). Bulls need a close above ¥97.66 to ease bearish pressure and shift immediate focus to the ¥98.35-82 region where the 55-DMA is located.
RES 4: ¥98.35 – High Dec 29
RES 3: ¥97.66 – High Jan 12
RES 2: ¥97.29 – Falling daily channel top
RES 1: ¥97.00 – High Jan 13
LPRICE: ¥95.97
SUP 1: ¥95.64 – Bollinger band base, Low Jan 7
SUP 2: ¥95.47 – 55-WMA
SUP 3: ¥95.23 – Monthly Low Dec 16
SUP 4: ¥94.74 – Low Oct 27
The break below the rising daily channel base Friday saw EUR/AUD head lower before finding support around the 100-WMA and bouncing back towards initial resistance. Bulls need a close above A$1.4559 to confirm breaks back above 100 & 200-DMAs and an easing of bearish pressure. A close above A$1.4767 is then needed to hint at a bigger bounce and to shift focus back to the 21-DMA (A$1.4849). While A$1.4559 caps bears initially target A$1.4217.
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$1.4425
SUP 1: A$1.4389 – 100-WMA
SUP 2: A$1.4366 – Low Jan 12
SUP 3: A$1.4217 – Monthly Low Oct 31
SUP 4: A$1.4184 – Low Sept 12