AUD / JPY, AUD / NZD, AUD / CAD – call points
- AUD / JPY and AUD/CAD has exceeded some resistance levels, more ahead
- AUD / NZD remains in a declining channel, continuing to make new lows
- In general, AUD crosses have had major movements in the lower part since May, will they turn around?
AUD / JPY – Technical Analysis
AUD /JPY has stalled in its recent rally as it failed to break through the 200-day moving average (SMA) at 82.03 last week. This level is now a potential resistance point as it failed to rise again 2 days later.
Above this level, 61.8% Fibonacci retracement is still possible at 82.79, calculated from a peak in May of 85.81 to a low of 77.90 in August. This level of withdrawal closely coincides with the previous high of 82.82. Further resistance may be at previous peaks of 84.26 and 85.81.
Immediate support can be provided with a 21-day SMA at 80.34 and an earlier low of 77.90.
AUD / NZD – Technical Analysis
AUD /NZD remains in a decreasing channel and has several trend lines with a negative gradient. At the end of August, the cross made the lowest level of the new year, when it broke through the previous lowest level of 1.0418.
Trendline support, currently 1.0310, may provide the potential to turn higher, and a pause below that level may indicate an acceleration of downward movement.
On the top side are several levels that can provide resistance to previous records of 1.0454, 1.0542 and 1.0621. Should AUD / NZD move back above the 21-day SMA 1.0412, this may suggest a downward trend.
AUD / CAD – technical analysis
Earlier this month, AUD / CAD managed to break through the previous peak of 0.9234 and the trend line before we got above the 100-day SMA. As a result of this recent high race, the 21-day SMA has turned positive.
The next possible resistance levels are the recent peak of 0.9377 and the previous highest of 0.9420. In addition to these points, there is a pivot point rotation at 0.9451, which can provide resistance.
The downside is that 0.9234 is now a turning point to look at, while the new year’s low of 0.9114 may be a bit supportive.
– Written by Daniel McCarthy, Strategist at DailyFX.com
Use the or comments section below to contact Daniel @DanMcCathyFX Twitter