Fresh 2 month lows for the aussie Wednesday and the first dip below the 100-DMA since late March sees focus shift lower to $0.9188-0.9229 region where monthly lows and the 200-DMA are located. Initial resistance is noted on the hourlies at the $0.9375 level that initially acted as support Wednesday before capping following the break lower. Bulls need a close above $0.9375 to ease bearish pressure and above $0.9425 to target 2014 highs.
RES 4: $0.9505 – 2014 high July 1
RES 3: $0.9474 – High July 24
RES 2: $0.9425 – Hourly resistance July 24
RES 1: $0.9375 – Hourly support July 30 now resistance
LPRICE: $0.9323
SUP 1: $0.9295 – Falling daily channel base
SUP 2: $0.9229 – Monthly low June 3
SUP 3: $0.9202 – Monthly low May 2
SUP 4: $0.9188 – 200-DMA
NZD/USD is extending losses following the close below the rising daily channel base on Friday with immediate focus on the $0.8412-53 support region and the 200-DMA noted at $0.8453. Layers of resistance are noted in the $0.8520-99 region with bulls needing a close above $0.8599 to ease bearish pressure and above $0.8659 to shift focus back to the 21-DMA ($0.8697) and $0.8722 resistance just above.
RES 4: $0.8629 – 100-DMA
RES 3: $0.8599 – Hourly resistance July 24
RES 2: $0.8560 – High July 28
RES 1: $0.8520 – Hourly resistance July 29
LPRICE: $0.8480
SUP 1: $0.8453 – 200-DMA
SUP 2: $0.8412 – Monthly Low June 4
SUP 3: $0.8343 – Monthly Low Mar 3
SUP 4: $0.8243 – Low Feb 20
AUD/NZD has taken the first backward step in over a week with a close below the NZ$1.0960 support needed to confirm an easing of bullish pressure. Of some concern to bulls are the very O/B daily studies that are likely to have an impact on a break below NZ$1.0960. Bulls now need fresh 2014 highs to reconfirm bullish focus and target the NZ$1.1130-60 region. Overall bears need a close below the 200-DMA to shift focus back to July lows.
RES 4: NZ$1.1160 – Rising trend line projection
RES 3: NZ$1.1130 – Rising daily channel top
RES 2: NZ$1.1072 – High Dec 6 2013
RES 1: NZ$1.1048 – 2014 high July 29
LPRICE: NZ$1.0987
SUP 1: NZ$1.0960 – Hourly support July 25
SUP 2: NZ$1.0953 – Rising daily channel base
SUP 3: NZ$1.0869 – 200-DMA
SUP 4: NZ$1.0831 – 55-DMA
Following Monday’s dip back to the 21-DMA the AUD/JPY continues to consolidate above the 21-DMA with immediate focus on the Y96.18-51 region while the 21-DMA supports. Bears need a close below the 21-DMA to confirm an easing of bullish pressure and shift immediate focus back to the Y94.94-95.32 region where 55 & 100-DMAs are located with overall focus returning to the Y94.39 July monthly low.
RES 4: Y97.15 – Weekly Bollinger band top
RES 3: Y96.51 – 2014 high July 1
RES 2: Y96.21 – Bollinger band top
RES 1: Y96.18 – High July 24
LPRICE: Y95.92
SUP 1: Y95.69 – Low July 29
SUP 2: Y95.52 – 21-DMA
SUP 3: Y95.32 – 55-DMA
SUP 4: Y95.06 – 100-DMA
EUR/AUD regained lost ground Wednesday with the close above A$1.4357 confirming an easing of bearish pressure as daily studies correct from O/S. Immediate focus shifts to layers of resistance A$1.4385-1.4451 with bulls looking for a close above A$1.4451 to confirm a break of the 21-DMA and falling daily channel top, shifting focus to the 55-DMA and then the July monthly highs. Bears need a close back below A$1.4326 to signal a false break higher
RES 4: A$1.4520 – 55-DMA
RES 3: A$1.4451 – Falling daily channel top
RES 2: A$1.4419 – 21-DMA
RES 1: A$1.4385 – Previous hourly support now resistance
LPRICE: A$1.4357
SUP 1: A$1.4326 – High July 25 now support
SUP 2: A$1.4265 – Low July 25
SUP 3: A$1.4209 – 2014 Low July 24
SUP 4: A$1.4143 – Weekly Bollinger band base
