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Technical Analysis: AUD/USD, NZD/USD, AUD/JPY (from MNI)

Posted by Akhilesh Ganti on Apr 24, 2013 9:20:00 PM

AUSSIE TECHS: Layers Of Resistance Noted $1.0396-04

RES 4: $1.0478 - Previous daily support now resistance
RES 3: $1.0445 - Hourly resistance Apr 15
RES 2: $1.0398 - 200 day moving average
RES 1: $1.0358 - High Apr 19

PRICE: 1.0296 @  0122GMT

SUP 1: $1.0222 - Low Mar 23
SUP 2: $1.0205 - Low Mar 11
SUP 3: $1.0117 - 2013 Low Mar 4
SUP 4: $1.0101 - Low July 12 2012

COMMENTARY: The AUD/USD continues to languish above fresh 6 week lows with a close back above the Apr 19 high to relieve the immediate bearish focus, but we will look for a close above the $1.0404 level to shift focus back to 2013 highs. The 200-DMA ($1.0398), 100-DMA ($1.0404), 21-DMA ($1.0396) and daily highs are noted in the $1.0396-04 region providing significance. While this region caps hopes remain for a retest of the 2013 lows.

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KIWI TECHS: $0.8520 Level Remains Key Resistance

RES 4: $0.8840 - 2011 High Aug 1
RES 3: $0.8676 - 2013 High Apr 11
RES 2: $0.8594 - 21 day upper Bollinger band
RES 1: $0.8520 - Hourly resistance Aug 15

PRICE: 0.8481 @ 0122GMT

SUP 1: $0.8365 - 100 day moving average
SUP 2: $0.8337 - Low Mar 25
SUP 3: $0.8292 - Previous daily resistance now support
SUP 4: $0.8259 - 200 day moving average

COMMENTARY: The Kiwi has distanced itself further from the 100-DMA after testing it on Apr 23 but still needs to close above the $0.8520 level to see focus return to retests of the 2013 highs. Daily tech studies are starting to look like correcting from oversold levels and this may provide support to the pair on dips with an $0.8365-0.8520 range favoured for the remainder of the week. ____________________________________________________________________________

AUSSIE-YEN TECHS: Bounces Towards Initial Resistance

RES 4: Jpy105.7 - 21 day upper Bollinger band
RES 3: Jpy105.4 - 2013 high Apr 11
RES 2: Jpy103.8 - High Apr 15
RES 1: Jpy102.9 - High Apr 22

PRICE: 102.3 @  0122GMT

SUP 1: Jpy101.0 - 21 day moving average
SUP 2: Jpy99.95 - Low Apr 18
SUP 3: Jpy98.94 - Low Apr 16
SUP 4: Jpy98.65 - Rising daily trend line

COMMENTARY: Following the bounce from the 21-DMA on Tuesday AUD/JPY continues to drift towards the initial resistance level. The daily trend line continues to head higher and supports around Jpy98.65 today. A close back below this level remains needed to see the pair shift initial attention to Jpy96.95 and then back to the key Jpy92.50 level. While the daily trend line remains retests of the 2013 highs remains the overall focus.

 

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