The bounce from recent 2015 and 5+ year lows has remained capped ahead of the $0.8055 resistance level. Bulls need a close above this level to confirm an easing of bearish pressure and to shift focus back to the layers of resistance in the $0.8101-0.8301 region where 21 & 55-DMAs and the falling daily channel top are located. While $0.8055 caps bears remain firmly focused on the channel base with the Bollinger band base ($0.7899) their key concern.
RES 4: $0.8271 – 55-DMA
RES 3: $0.8180 – Falling daily channel top
RES 2: $0.8101 – 21-DMA
RES 1: $0.8055 – High Jan 23
LPRICE: $0.7905
SUP 1: $0.7901 – Low Jan 28
SUP 2: $0.7858 – 2015 Low Jan 26
SUP 3: $0.7816 – Weekly Bollinger band base
SUP 4: $0.7755 – Falling daily channel base
The brief respite Tuesday failed to push the NZD/USD back above the $0.7528 resistance needed to confirm an easing of bearish pressure with Wednesday’s failure at $0.7494 having resulted in a sell-off to 2015 and nearly 4 year lows. Focus now shifts to the $0.7098-0.7126 region where the weekly channel base and 2011 low are located. Bulls continue to look for a close above $0.7528 to ease bearish pressure. O/S daily studies and Bollinger band bases are key concerns for bears
RES 4: $0.7584 – High Jan 22
RES 3: $0.7528 – Hourly resistance Jan 23
RES 2: $0.7494 – High Jan 28
RES 1: $0.7398 – Low Jan 26 now resistance
LPRICE: $0.7350
SUP 1: $0.7126 – 2011 Low Mar 17 2011
SUP 2: $0.7098 – Falling weekly channel base
SUP 3: $0.6951 – Monthly Low Aug 25 2010
SUP 4: $0.6797 – Monthly Low July 1 2010
Recent flirtations with the 55-DMA have been unable to manage a close above until today with focus now shifting to the NZ$1.0867-1.0944 region where key DMAs and the 61.8% Fibo retracement are located. Bears continue to look for a close below the 21-DMA to end bullish hopes and below NZ$1.0462 to shift immediate focus to 2015 lows. The Bollinger top and O/B studies are key concerns for bulls with the Bollinger band top currently capping
RES 4: NZ$1.0944 – 61.8% Fibonacci retracement 1.1308-1.0354
RES 3: NZ$1.0867 – High Dec 8, 100-DMA
RES 2: NZ$1.0831 – 50.0% Fibonacci retracement 1.1308-1.0354
RES 1: NZ$1.0767 – Bollinger band top
LPRICE: NZ$1.0762
SUP 1: NZ$1.0564 – Low Jan 26
SUP 2: NZ$1.0553 – 21-DMA
SUP 3: NZ$1.0533 – Low Jan 20
SUP 4: NZ$1.0462 – Low Jan 14
The ¥94.83 resistance level confirmed significance Wednesday with the AUD/JPY remaining capped ahead. Bulls need a close above ¥94.83 to ease bearish pressure and shift focus back to the ¥95.85-97.66 region where the channel top and key DMAs are located. Overall bulls need a close above ¥98.80 to target 2014 highs. While ¥94.83 caps bears remain focused on the falling daily channel base around ¥91.27
RES 4: ¥96.63 – Falling daily channel top
RES 3: ¥96.44 – 200-DMA
RES 2: ¥95.85 – High Jan 22
RES 1: ¥94.83 – Hourly support Jan 23 now resistance
LPRICE: ¥93.10
SUP 1: ¥92.96 – Bollinger band base
SUP 2: ¥92.17 – Low Jan 26
SUP 3: ¥91.76 – Monthly Low Oct 16
SUP 4: ¥91.27 – Falling daily channel base
The recovery from Monday’s 2015 and 4 month lows has stalled ahead of the key A$1.4409-1.4644 region where layers of resistance including 21, 55, 100 & 200-DMAs are located. Overall bulls need a close above the 55-DMA to end bearish hopes and shift overall focus to the Dec monthly high. The failure ahead of A$1.4409 keeps bearish hopes alive with a close below A$1.4109 needed to reconfirm overall focus on 2014 lows.
RES 4: A$1.4644 – 55-DMA
RES 3: A$1.4614 – High Jan 14
RES 2: A$1.4447 – 21-DMA
RES 1: A$1.4409 – High Jan 22
LPRICE: A$1.4257
SUP 1: A$1.4109 – Low Jan 26
SUP 2: A$1.3965 – 2015 Low Jan 26
SUP 3: A$1.3916 – Bollinger band base
SUP 4: A$1.3801 – 2014 Low Sept 5