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16-Apr-2014 22:25
AUSSIE-KIWI TECHS: Spike Higher Sees Bulls Targeting Channel Top
*RES 4: NZ$1.1070 - High Dec 6
*RES 3: NZ$1.1036 - 50.0% Fibonacci 1.1579-1.0476
*RES 2: NZ$1.0947 - 2014 high Feb 4
*RES 1: NZ$1.0908 - 38.2% Fibonacci 1.1579-1.0476
*PRICE: NZ$1.0865 @ 2000GMT
*SUP 1: NZ$1.0814 - Low Apr 15
*SUP 2: NZ$1.0779 - 100-DMA, Rising daily channel base
*SUP 3: NZ$1.0741 - 21-DMA
*SUP 4: NZ$1.0728 - Hourly support Apr 2
*COMMENTARY: The aussie-kiwi broke sharply higher and traded above the 38.2%
Fibonacci retracement by a pip before giving up some of the gains. The break
higher retains focus on the NZ$1.0942-47 region where the rising daily channel
top is noted with bulls initially targeting this level while the 100-DMA
supports. Bears need a close below the 100-DMA to hint at a deeper correction
with a close below the 21-DMA shifting immediate focus to NZ$1.0623-43.
16-Apr-2014 22:40
AUSSIE-YEN TECHS: Y94.81 Remains Key Support
*RES 4: Y97.28 - 21 day upper Bollinger band
*RES 3: Y96.49 - 2014 high Apr 4
*RES 2: Y96.22 - High Apr 10
*RES 1: Y96.02 - High Apr 16
*PRICE: Y95.87 @2000GMT
*SUP 1: Y95.55 - Hourly support Apr 16
*SUP 2: Y95.16 - Low Apr 16
*SUP 3: Y94.92 - 21-DMA
*SUP 4: Y94.81 - Low Mar 31
*COMMENTARY: Aussie-yen bounced from ahead of the Y94.81 support Tuesday with
Wednesday's bounce seeing the pair stalling ahead of the Y96.02-49 region again.
The bounces have eased the bearish focus but bulls still need a close above the
Y96.49 to confirm they are back in control and see focus shift to tests of the
Y99.00-05 region. Bears now need a close below hourly support to shift focus
back to the key Y94.81 support.