AUD/USD: Struggling to regain lost ground topside. A relatively subdued day for the Aussie yesterday with it struggling to surmount the $1.0080-90 region. An overall break below the 21 day MA remains favoured until the pair can take out the key $1.0220-50 resistance region. Closes below the 21 day MA would then see focus shift back to retests of the 2012 lows.
RES 4: $1.0247 – 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: $1.0087 – High June 27
LATEST PRICE: 1.0077
SUP 1: $0.9951 – 21 day moving average
SUP 2: $0.9823 – Low June 8
SUP 3: $0.9643 – 21 day lower Bollinger band
SUP 4: $0.9584 – 2012 Low June 1
AUD/JPY: 50% Fibo level key resistance. The pair continues to back away from a test of initial support noted at the 21 day MA but needs a close above the Jpy81.55-60 region to kick start topside momentum. For now, focus remains on initial tests of the 21 day MA with an increased risk that focus then shifts lower to retests of the 2012 lows set on June 1.
RES 4: Jpy82.88 – 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: Jpy80.50 – Previous hourly support now resistance
LATEST PRICE: 80.33
SUP 1: Jpy78.88 – 21 day moving average
SUP 2: Jpy78.10 – Low June 12
SUP 3: Jpy77.73 – Low June 8
SUP 4: Jpy75.64 – 21 day lower Bollinger band
NZD/USD: Consolidation continues. The pair looks to content to trade sideways, supported by June 25 lows and capped by the 200 day MA. Back above the 200 day MA sees focus swing back to key resistance in the $0.8050-60 region, while a move below the June 25 lows sees the 21 day MA retested and then the 2012 lows at $0.7460 beneath.
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: $0.7946 – 200 day moving average
LATEST PRICE: 0.7918
SUP 1: $0.7845 – Low June 25
SUP 2: $0.7791 – Hourly support June 14
SUP 3: $0.7765 – 21 day moving average
SUP 4: $0.7621 – Low June 8
USD/KRW: Eventual break higher favoured. Consolidation within the recent Krw1147-1165 range continues with the Krw1165.2 level seen as somewhat pivotal. Back above this level is needed to shift focus to retests of 2012 highs, and while Krw1165.2 caps the risk remains for continued tests of the key support. Overall a break higher is favoured as daily tech studies unwind their oversold condition.
RES 4: Krw1194.9 – High Oct 5 2011
RES 3: Krw1186.7 – 2012 High June 4
RES 2: Krw1167.0 – 21 day moving average
RES 1: Krw1165.2 – High June 18
LATEST PRICE: 1155.7
SUP 1: Krw1147.8 – Previous daily resistance now support
SUP 2: Krw1143.9 – 200 day moving average
SUP 3: Krw1125.1 – Low May 2
SUP 4: Krw1120.0 – Low Mar 19
USD/SGD: More Sgd1.2650-1.2850 to end the week. While consolidation above the 200 day MA continues a retest of the June monthly highs remains favoured. Back below the 200 day MA would be needed to see focus shift back to retests of the monthly
low from June 19 with stops noted below. Flat 21 day Bollinger bands continue to 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: Sgd1.2937 – 21 day upper Bollinger band
RES 1: Sgd1.2888 – High June 8
LATEST PRICE: 1.2765
SUP 1: Sgd1.2748 – Low June 22
SUP 2: Sgd1.2726 – 200 day moving average
SUP 3: Sgd1.2649 – Monthly low June 19
SUP 4: Sgd1.2617 – 100 day moving average
EasyForexNews Research Team