AUD/USD followed up Wednesday’s rally with an attempted continuation higher Thursday that stalled ahead of last week’s high with 2014 highs noted offering further resistance just above. Bears continue to look for a close below $0.9367 to ease bullish pressure a little while a close below the 21-DMA is needed to end bullish hopes and see the focus shift back to the $0.9196-0.9233 region where 100 & 200-DMA’s are located.
RES 4: $0.9549 – High Nov 6
RES 3: $0.9461 – 2014 high Apr 10
RES 2: $0.9455 – 21 day upper Bollinger band
RES 1: $0.9436 – High June 12
LPRICE: $0.9398
SUP 1: $0.9367 – Hourly resistance June 17 now support
SUP 2: $0.9326 – 55-DMA
SUP 3: $0.9322 – 21-DMA
SUP 4: $0.9233 – Low June 3
Immediate focus remains on the $0.8743-79 region with the 2014 high noted at $0.8779. The pair found support ahead of the $0.8700 level Thursday with bears needing a close below this level to confirm an easing of bullish pressure whereas a close below $0.8642 is needed to hint at a deeper pullback that then has to deal with key moving averages in the $0.8520-0.8600 region. Of some concern to bulls are the O/B daily studies that may slow rallies
RES 4: $0.8832 – 1.382 projection of $0.8516-0.8745
RES 3: $0.8825 – 21 week upper Bollinger band
RES 2: $0.8779 – 2014 High May 6
RES 1: $0.8743 – High May 7
LPRICE: $0.8712
SUP 1: $0.8700 – High June 12 & 16 now support
SUP 2: $0.8642 – Low June 17
SUP 3: $0.8604 – Hourly support June 12
SUP 4: $0.8597 – 55-DMA
AUD/NZD managed a spike above the 100-DMA on Thursday before stalling around the NZ$1.0810 level that was previously noted as support. Bulls continue to look for a close above the 55-DMA to confirm a break of the 100-DMA and an easing of bearish pressure with immediate focus shifting to the NZ$1.0875-1.0901 region where the 21-DMA is located. Overall while the 55-DMA continues to cap bears will initially target the NZ$1.0640-48 region.
RES 4: NZ$1.0901 – Hourly resistance June 12
RES 3: NZ$1.0875 – High June 13
RES 2: NZ$1.0844 – 55-DMA
RES 1: NZ$1.0810 – High June 19
LPRICE: NZ$1.0782
SUP 1: NZ$1.0732 – Low June 18
SUP 2: NZ$1.0648 – Monthly Low May 6
SUP 3: NZ$1.0640 – Low Mar 27
SUP 4: NZ$1.0536 – Monthly Low Mar 12
AuD/JPY found support at the 55-DMA on Tuesday before bouncing from ahead of this support on Wednesday with the bounce and close above Y95.54 having eased the bearish pressure a little. The Y96.24-51 region remains key with the 21 day upper Bollinger band seen coming in just above. Bears now need a close below Y95.73 to see the 21 & 55-DMA pressured with a close below the 21-DMA needed to end bullish hopes and target Y93.40-94.
RES 4: Y96.60 – 21 day upper Bollinger band
RES 3: Y96.51 – 2014 high Apr 4
RES 2: Y96.24 – High Apr 23
RES 1: Y95.97 – High June 19
LPRICE: Y95.84
SUP 1: Y95.73 – Low June 19
SUP 2: Y95.54 – Previous hourly resistance now support
SUP 3: Y95.21 – 55-DMA
SUP 4: Y95.17 – 21-DMA
The rally from the 2014 lows seems to be running out of steam ahead of $1.4555-91. The $1.4591 level is key with bulls needing a close above to confirm a break of the falling daily trend line, 21-DMA and an easing of bearish pressure with overall focus then shifting back to the A$1.4870-1.4938 region. While initial resistance caps bears will continue to look for fresh 2014 lows with overall focus shifting to the A$1.4051 level
RES 4: A$1.4871 – 200-DMA
RES 3: A$1.4725 – 55-DMA
RES 2: A$1.4591 – 21-DMA, Falling daily trend line
RES 1: A$1.4555 – Hourly resistance June 10
LPRICE: A$1.4470
SUP 1: A$1.4442 – Low June 19
SUP 2: A$1.4359 – 2014 Low June 12
SUP 3: A$1.4318 – Low Nov 20 2013
SUP 4: A$1.4144 – Low Nov 8 2013
