AUD/USD: 2012 lows now the overall focus. Break below parity to start the week fell just short of a retest of the 21 day MA with lower levels now favoured until the pair can manage a close above the $1.0077-1.0140 resistance region. Daily tech studies continue to work off their previously overbought condition with plenty of room to move lower as the pair retains overall focus on
retests of the 2012 lows.
RES 4: $1.0248 – 200 day moving average
RES 3: $1.0226 – Previous daily support now resistance
RES 2: $1.0140 – Spike low June 20 now resistance
RES 1: $1.0077 – High June 22
LATEST PRICE: 1.0007
SUP 1: $0.9930 – 21 day moving average
SUP 2: $0.9823 – Low June 8
SUP 3: $0.9627 – 21 day lower Bollinger band
SUP 4: $0.9584 – 2012 Low June 1
AUD/JPY: Correction lower continues. Sharp reversal lower following last weeks pause ahead of 50% Fibo retracement at Jpy81.57 sees initial focus on tests of the Jpy78.00-60 region with a retest of 2012 lows a possibility. Topside the pair needs to close back above the 50% Fibo level in order to kick start topside momentum and relieve current downside pressure.
RES 4: Jpy82.92 – 100 day moving average
RES 3: Jpy82.51 – Previous daily support now resistance
RES 2: Jpy81.57 – 50.0% retracement of Jpy88.64-74.51 move
RES 1: Jpy80.40 – Previous hourly support now resistance
LATEST PRICE: 80.95
SUP 1: Jpy78.70 – 21 day moving average
SUP 2: Jpy78.10 – Low June 12
SUP 3: Jpy77.73 – Low June 8
SUP 4: Jpy75.56 – 21 day lower Bollinger band
NZD/USD: Starting to look heavy. Lower daily lows the past three days see the NZD looking heavy as daily tech studies turn over from very overbought levels following the failure to take out resistance around $0.8060. The pair needs to close back above the $0.7920 level to shift focus back to retests of the $0.8060 level and away from an initial test of the 21 day MA currently favoured.
RES 4: $0.8083 – 61.8% retracement of $0.8461-0.7461 move
RES 3: $0.8061 – Previous daily support now resistance
RES 2: $0.8016 – High June 21
RES 1: $0.7921 – Spike low June 20 now resistance
LATEST PRICE: 0.7872
SUP 1: $0.7791 – Hourly support June 14
SUP 2: $0.7751 – Low June 13
SUP 3: $0.7737 – 21 day moving average
SUP 4: $0.7621 – Low June 8
USD/KRW: Pauses ahead of initial resistance. USD/KRW paused right on the June 18 highs yesterday with a move higher to test the 21 day MA remaining favoured this week and retests of 2012 highs favoured overall as oversold daily tech studies continue to correct higher. Downside the pair needs to break back below the key support noted around the Krw1148 level to refocus lower.
RES 4: Krw1194.9 – High Oct 5 2011
RES 3: Krw1186.7 – 2012 High June 4
RES 2: Krw1170.0 – 21 day moving average
RES 1: Krw1165.2 – High June 18
LATEST PRICE: 1161.7
SUP 1: Krw1147.8 – Previous daily resistance now support
SUP 2: Krw1143.8 – 200 day moving average
SUP 3: Krw1125.1 – Low May 2
SUP 4: Krw1120.0 – Low Mar 19
USD/SGD: Focus shift higher confirmed. The break and close above the 21 day MA (Sgd1.2798) confirms a shift in focus back to Sgd1.2970 initially and then Sgd1.3200 overall. Daily tech studies continue to correct from moderately oversold levels and have considerable room to move before overbought becomes an issue. Flat 21 day Bollinger bands suggest stalling topside at Sgd1.2938
for now.
RES 4: Sgd1.3004 – 2012 high Jan 9
RES 3: Sgd1.2970 – Monthly high June 1
RES 2: Sgd1.2938 – 21 day upper Bollinger band
RES 1: Sgd1.2888 – High June 8
LATEST PRICE: 1.2818
SUP 1: Sgd1.2734 – High June 18 now support
SUP 2: Sgd1.2649 – Low June 19
SUP 3: Sgd1.2611 – 100 day moving average
SUP 4: Sgd1.2587 – 61.8% retracement of Sgd1.2349-1.2970 move
EasyForexNews Research Team