AUD/USD continues to grind its way higher with bulls in control as evidenced by the higher daily highs and lows. Bears need a close below Friday’s low to ease the bullish pressure and a close below the 21-DMA to end bullish hopes and see focus shift back to the key $0.9191-0.9233 support region. While $0.9318 supports bulls remain firmed focused on the $0.9426-61 region with a close above needed to shift focus to the 200-WMA around $0.9963 today
RES 4: $0.9565 – 21 week upper Bollinger band
RES 3: $0.9461 – 2014 high Apr 10
RES 2: $0.9426 – High Apr 11
RES 1: $0.9408 – High May 14
LPRICE: $0.9371
SUP 1: $0.9358 – Hourly support June 10
SUP 2: $0.9318 – Low June 6
SUP 3: $0.9299 – 21-DMA
SUP 4: $0.9233 – Low June 2
After having found support ahead of Friday’s low on Monday the NZD/USD was again supported on dips Tuesday, this time around the 100-DMA ($0.8490). In saying that, bulls need a close above the 21-DMA to provide some breathing room and see the immediate focus shift to the 55-DMA. Bears need to see a close below Friday’s low to confirm a break of the 100-DMA and see overall focus shift to tests of the 200-DMA.
RES 4: $0.8779 – 2014 High May 6
RES 3: $0.8694 – High May 15
RES 2: $0.8595 – High May 21, 55-DMA
RES 1: $0.8542 – 21-DMA
LPRICE: $0.8522
SUP 1: $0.8479 – Previous hourly resistance now support
SUP 2: $0.8432 – Hourly support June 5
SUP 3: $0.8400 – Low June 4
SUP 4: $0.8377 – 200-DMA
After having dipped below the 200-DMA on Friday the AUD/NZD found support at this level to start the new week. Initial support remains at Friday’s low with bears needing a close below this level to ease bullish pressure a little while overall a close below the 21-DMA is needed to end bullish hopes and shift focus back to the NZ$1.0750 level. At present bulls are focused on higher levels and initially target layers of resistance NZ$1.1036-69.
RES 4: NZ$1.1165 – 61.8% Fibonacci 1.1579-1.0476
RES 3: NZ$1.1069 – High Dec 6 2013
RES 2: NZ$1.1048 – High Dec 11 2013
RES 1: NZ$1.1036 – 50.0% Fibonacci 1.1579-1.0476
LPRICE: NZ$1.0990
SUP 1: NZ$1.0970 – Hourly support June 9
SUP 2: NZ$1.0936 – Low June 6
SUP 3: NZ$1.0908 – Previous daily resistance now support
SUP 4: NZ$1.0887 – 21-DMA
AUD/JPY recovered from a dip to post a relatively bullish close on Tuesday which keeps bullish hopes alive. Bulls are currently targeting the Y96.24-51 region with a close below Y95.67 now needed to confirm an easing of bullish pressure while a close below the 21-DMA is needed to see focus shift back to the 100 & 200-DMA’s in the Y93.29-60 region. The only concern for bulls are daily tech studies that are approaching O/B.
RES 4: Y98.16 – High May 29 2013
RES 3: Y97.91 – 21 week upper Bollinger band
RES 2: Y96.51 – 2014 high Apr 4
RES 1: Y96.24 – High Apr 23, 21 day upper Bollinger band
LPRICE: Y95.90
SUP 1: Y95.67 – Low June 10
SUP 2: Y95.27 – Hourly support June 5
SUP 3: Y94.84 – 21-DMA
SUP 4: Y94.26 – Hourly support May 29
The move lower continued on Tuesday with the EUR/AUD trading at fresh 2014 and 7 month lows and managing a relatively bearish close. Initial support now shifts to the previous 2014 low at A$1.4511 but bulls will need to see a close above the A$1.4555 resistance to confirm an easing of bearish pressure. Overall a close above the 21-DMA is needed to hint at an end to the move lower and see immediate focus shift to the 200-DMA. For now bears target A$1.4051
RES 4: A$1.4786 – 55-DMA
RES 3: A$1.4688 – 21-DMA
RES 2: A$1.4555 – Hourly resistance June 10
RES 1: A$1.4511 – Previous 2014 low now resistance
LPRICE: A$1.4450
SUP 1: A$1.4439 – 2014 Low June 10
SUP 2: A$1.4318 – Low Nov 20 2013
SUP 3: A$1.4144 – Low Nov 8 2013
SUP 4: A$1.4051 – Monthly Low Nov 7 2013
