AUD/USD remained capped ahead of the $0.8198 resistance level Wednesday before heading sharply lower only to bounce from ahead of the 2015 low and Bollinger band base ($0.8061). Bulls continue to look for a close above $0.8198 to shift focus to the falling daily channel top around $0.8299 today. While $0.8198 caps immediate focus remains on 2015 lows with overall focus on the falling daily channel base around $0.7869.
RES 4: $0.8299 – Falling daily channel top
RES 3: $0.8255 – 2015 High Jan 12
RES 2: $0.8208 – Bollinger band top
RES 1: $0.8198 – High Jan 13
LPRICE: $0.8150
SUP 1: $0.8112 – Hourly support Jan 14
SUP 2: $0.8069 – Low Jan 14
SUP 3: $0.8032 – 2015 Low Jan 7
SUP 4: $0.7962 – Low July 16 2009
Lower daily highs and lows continued for the pair Wednesday with support ahead of $0.7679 slowing the move. Layers of resistance remain in the $0.7802-0.7873 region with bulls needing a close above $0.7802 to confirm breaks of the 21 & 55-DMAs, shifting focus to the key $0.7873 level. A close above $0.7873 is then needed to shift overall focus to the $0.8039 Oct high with the 100-DMA then becoming the immediate focus. While $0.7802 caps bears remain focused on 2014 lows
RES 4: $0.7897 – 100-DMA
RES 3: $0.7873 – High Dec 11
RES 2: $0.7848 – Bollinger band top
RES 1: $0.7802 – High Jan 13
LPRICE: $0.7722
SUP 1: $0.7679 – Low Jan 6
SUP 2: $0.7673 – Bollinger band base
SUP 3: $0.7609 – 2014 Low Dec 9
SUP 4: $0.7557 – Falling daily trend line extension
AUD/NZD continues to find support on dips below the 21-DMA (NZ$1.0484) before bouncing to pressure the 2015 high with the Bollinger band just above the key concern for bulls. Layers of support remain with bears needing a close below NZ$1.0503 to ease bullish pressure and below NZ$1.0460 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 where the 55-DMA is located.
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$1.0551
SUP 1: NZ$1.0503 – Hourly support Jan 14
SUP 2: NZ$1.0460 – Low Jan 14
SUP 3: NZ$1.0435 – High Jan 7 now support
SUP 4: NZ$1.0353 – 2015 & Record Low Jan 7
Pressure on previous support around the ¥95.65 level resulted on a dip below the 55 & 100-WMAs and Bollinger band base (¥95.68) on the way to fresh 2015 and 3 month lows. Bears remain firmly focused on the falling daily channel base (¥92.13) with the Bollinger band base their key concern. Bulls now need a close above the 200-DMA to shift focus back to the ¥97.13-66 region where the falling daily channel top and 100-DMA are located.
RES 4: ¥97.13 – Falling daily channel top, 21-DMA
RES 3: ¥97.00 – High Jan 13
RES 2: ¥96.47 – 200-DMA
RES 1: ¥95.81 – Low Jan 13 now resistance
LPRICE: ¥95.51
SUP 1: ¥94.76 – Hourly support Jan 14
SUP 2: ¥94.11 – Low Jan 14
SUP 3: ¥93.41 – Low Oct 20
SUP 4: ¥92.92 – Weekly Bollinger band base
The bounce from ahead of the A$1.4366 2015 low remained capped at the falling daily channel top off Dec monthly highs before seeing immediate focus return to the 2015 low. Key concerns for bears come from the O/S daily studies and Bollinger band base. In saying that, bears favour a break lower that sees immediate focus shift to the A$1.4184-1.4217 region where Oct monthly lows are located. Bulls need a close above the 200-DMA to ease bearish pressure and above the channel top to target the A$1.4767-1.4875 region.
RES 4: A$1.4767 – High Jan 6
RES 3: A$1.4673 – 55-DMA
RES 2: A$1.4611 – Falling daily channel top
RES 1: A$1.4542 – 200-DMA
LPRICE: A$1.4457
SUP 1: A$1.4370 – 100-WMA
SUP 2: A$1.4366 – 2015 Low Jan 12
SUP 3: A$1.4290 – Falling daily channel base
SUP 4: A$1.4217 – Monthly Low Oct 31