The $0.9085 Jan monthly high remains key resistance this week with a close above this level needed to kick start bullish momentum and see focus shift to layers of resistance in the $0.9147-0.9248 region including the 100 and 200-DMA’s. Tuesday saw the $0.9079-85 resistance region thwart attempts to head higher once again with daily tech studies remaining at very O/B levels and looking to correct lower.
R 4: $0.9141 – 100 day moving average
R 3: $0.9085 – Monthly high Jan 13
R 2: $0.9079 – 38.2% Fibonacci 0.9754-0.8662
R 1: $0.9046 – Hourly resistance Feb 19
Latest price: $0.9000
S 1: $0.8969 – Low Feb 14
S 2: $0.8920 – 55 day moving average
S 3: $0.8907 – Low Feb 10
S 4: $0.8870 – Hourly support Feb 4 & 5
NZD/USD has started working its way through key moving averages are clustered in the $0.8259-77 region with a close below needed to see overall focus return to retests of the $0.8050-55 region. The pair has pulled back from Monday’s high with lower daily highs and lows combined with correcting overbought daily tech studies weighing. A close above $0.8392 is needed kick start bullish momentum and shift focus back to Jan 14 highs.
R 4: $0.8541 – Monthly high Oct 22
R 3: $0.8428 – High Jan 14
R 2: $0.8392 – High Feb 17
R 1: $0.8344 – High Feb 19
Latest price: $0.8280
S 1: $0.8257 – 55 day moving average
S 2: $0.8189 – Low Feb 5
S 3: $0.8131 – 200 day moving average
S 4: $0.8052 – Low Feb 4
AUD/NZD continues to find support ahead of the NZ$1.0825 level with initial resistance capping. Immediate focus remains on the NZ$1.0905-45 region with a close above then seeing the NZ$1.1042-70 region targeted. A close back below the NZ$1.0825 level is needed to relieve renewed bullish pressure while a close below NZ$1.0730 is needed to shift focus lower
R 4: NZ$1.1038 – 100 day moving average
R 3: NZ$1.0973 – 21 day upper Bollinger band
R 2: NZ$1.0945 – High Feb 4
R 1: NZ$1.0905 – Hourly resistance Feb 6, Cloud top
Latest price: NZ$1.0860
S 1: NZ$1.0825 – Hourly support Feb 18
S 2: NZ$1.0765 – 21 day moving average
S 3: NZ$1.0730 – Low Jan 31
S 4: NZ$1.0570 – Low Jan 29
AUD/JPY broke above the 55-DMA (Y92.23) on Tuesday but remained capped ahead of layers of resistance in the Y92.98-93.57 region. Initial support is noted at Wednesday’s low with a close below needed to see immediate focus shift back to the Y90.95 level. Daily tech studies are slowly correcting from oversold levels and may continue to see attempts higher lack follow through. While the falling daily channel caps retests of the 21-DMA remain favoured
R 4: Y94.07 – 2014 high Jan 6
R 3: Y93.12 – Falling daily trend line, Cloud top
R 2: Y92.98 – High Feb 12 & 18
R 1: Y92.46 – High Feb 19
Latest price: Y92.10
S 1: Y91.88 – Low Feb 19
S 2: Y90.95 – Low Feb 7 & 10
S 3: Y90.63 – Hourly support Feb 6
S 4: Y90.41 – Low Feb 6
EUR/AUD continues to fail topside ahead of the A$1.5301-28 region where 55 and 21-DMA’s are noted. Last week’s low is key this week with a close below needed to hint at a potential continuation lower that would target the 200-DMA (A$1.4558). Daily tech studies continue to slowly look to correct from very oversold levels which may continue to limit downside follow through. A close above the 21-DMA is needed to see focus return to the 2014 high.
R 4: A$1.5668 – High Jan 28
R 3: A$1.5480 – High Feb 4
R 2: A$1.5328 – 21 day moving average
R 1: A$1.5315 – High Feb 10
Latest price: A$1.5260
S 1: A$1.5205 – Low Feb 12
S 2: A$1.4987 – Low Feb 12
S 3: A$1.4939 – 50.0% Fibonacci 1.4056-1.5832
S 4: A$1.4922 – 100 day moving average
