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

Posted by Akhilesh Ganti on Apr 29, 2013 9:20:00 PM

AUSSIE TECHS: $1.0358-99 Region Remains Key Resistance

RES 4: 1.0582 - Monthly high Apr
RES 3: 1.0478 - Previous daily support now resistance
RES 2: 1.0445 - Hourly resistance Apr 15
RES 1: 1.0398 - 200 day moving average

PRICE: 1.0347 @ 0122GMT

SUP 1: 1.0264 - Low Apr 29
SUP 2: 1.0222 - Low Apr 23
SUP 3: 1.0205 - Low Mar 11
SUP 4: 1.0117 - 2013 Low Mar 4

COMMENTARY: The 1.0358-99 region remains key resistance for the AUD/USD with the pair closing on the cusp of this region yesterday. Layers of resistance remain above including the Ichimoku cloud top (1.0358), 21-DMA(1.0379), and 100 & 200-DMA's (both around 1.0398). While this region caps overall focus remains on retests of the 2013 lows, whereas a break above is needed to see the 2013 highs targeted once more.

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KIWI TECHS: Focus Returns To 2013 High

RES 4: 0.8840 - 2011 High Aug 1
RES 3: 0.8676 - 2013 High Apr 11
RES 2: 0.8643 - High Apr 12
RES 1: 0.8607 - 21 day upper Bollinger band

PRICE: 0.8547 @ 0122GMT

SUP 1: 0.8470 - Low Apr 25
SUP 2: 0.8368 - 100 day moving average
SUP 3: 0.8337 - Low Mar 25
SUP 4: 0.8292 - Previous daily resistance now support

COMMENTARY: The Kiwi bounced sharply from the Apr 25 lows and 21-DMA to start the week, with focus now turning to spikes above the rising 21 day upper Bollinger band and then the 2013 highs above. The 0.8470 level now remains key for the move higher with a close below needed to relieve the current bullish focus and see attention return to the 100-DMA.

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AUSSIE-YEN TECHS: Rising Daily Trend Line Remains Key Support

RES 4: 105.4 - 2013 high Apr 11
RES 3: 103.8 - High Apr 15
RES 2: 102.9 - High Apr 22
RES 1: 101.5 - 21 day moving average

PRICE: 101.42 @ 0122GMT

SUP 1: 99.95 - Low Apr 18
SUP 2: 98.95 - Rising daily trend line
SUP 3: 96.95 - Low Apr 2
SUP 4: 95.77 - 100 day moving average

COMMENTARY: AUD/JPY continues to hesitate ahead of the Apr 18 low. The rising daily trend line remains around the same level as the Apr 16 low with stops expected below. A close below the rising daily trend line that has been in place since early Nov is needed to see overall focus return to the 92.50 level. While the trend line remains in place the possibility of a bounce back to the Apr 22 highs exists.

 

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