AUD/USD: Consolidates Fridays move higher. The AUD now sees initial support at yesterday’s low of $1.0212 but back below the 2nd layer of support at $1.0158 is needed to shift the immediate focus away from a continuation higher that sees the April monthly highs targeted. The 21 day upper Bollinger band is also heading higher once more ($1.0302) with spikes above expected.
RES 4: $1.0469 – Monthly high April 30
RES 3: $1.0371 – 61.8% retracement of $1.0856-0.9584 move
RES 2: $1.0302 – 21 day upper Bollinger band
RES 1: $1.0270 – 100 day moving average
LATEST PRICE: 1.0257
SUP 1: $1.0212 – Low July 2
SUP 2: $1.0158 – Hourly support June 29
SUP 3: $0.9972 – Low June 25
SUP 4: $0.9923 – Low June 14
AUD/JPY: Pauses at the 100 week moving average. Fresh 8 week highs for the pair as it consolidated above the 200 day MA before pausing right on the 100 week moving average. A close back below the 200 day MA is now needed to shift the immediate focus away from tests of the 100 day MA (Jpy82.80) and back to the Jpy79.30-60 region, but the 100 week MA remains key this week.
RES 4: Jpy84.81 – High April 13
RES 3: Jpy82.74 – Ichimoku cloud top
RES 2: Jpy82.51 – Previous daily support now resistance
RES 1: Jpy82.01 – 100 week moving average
LATEST PRICE: 81.54
SUP 1: Jpy80.91 – 200 day moving average
SUP 2: Jpy80.69 – Hourly support June 29
SUP 3: Jpy79.33 – Low June 25
SUP 4: Jpy78.10 – Low June 12
NZD/USD: Closes above 100 day MA. With the NZD looking like closing above the 100 day MA for the first time since early May focus remains on initial tests of the key $0.8060-85 resistance region. A close above then sees focus firmly on tests of the $0.8235 level last seen back on April 30. Overall back below the $0.7963 support is needed to shift initial focus back to $0.7842.
RES 4: $0.8317 – High April 13
RES 3: $0.8235 – High April 30
RES 2: $0.8083 – 61.8% retracement of $0.8461-0.7461 move
RES 1: $0.8061 – Previous daily support now resistance
LATEST PRICE: 0.8043
SUP 1: $0.8002 – Low July 22
SUP 2: $0.7963 – Hourly support June 29
SUP 3: $0.7842 – Low June 28
SUP 4: $0.7828 – 21 day moving average
USD/KRW: The pair remains heavy. The pair consolidated at the lower end of Fridays range to start the week with initial focus remaining on the Krw1120-25 support region until the pair can manage to close back above the Krw1165.2 June 18 highs. The 21 day lower Bollinger band continues to head sharply lower (Krw1141.9) and USD/KRW is expected to continue to spike below on its move lower
RES 4: Krw1186.7 – 2012 High June 4
RES 3: Krw1165.2 – High June 18
RES 2: Krw1160.4 – High June 28
RES 1: Krw1147.7 – Previous daily support now resistance
LATEST PRICE: 1145.3
SUP 1: Krw1125.1 – Low May 2
SUP 2: Krw1120.0 – Low Mar 19
SUP 3: Krw1112.8 – Low Mar 2
SUP 4: Krw1100.2 – Monthly Low Oct 31
USD/SGD: Stops lurking below double daily bottom. A double daily bottom at the Sgd1.2649 level confirms the significance of this support level with stops noted below. The pair really needs to close above the Sgd1.2750 level to remove the immediate pressure from lower levels. Failure to do so increases the likelihood of a break lower with focus then on retests of the 2012 lows down at Sgd1.2350.
RES 4: Sgd1.2970 – Monthly high June 1
RES 3: Sgd1.2902 – 21 day upper Bollinger band
RES 2: Sgd1.2888 – High June 8
RES 1: Sgd1.2750 – Previous hourly support now resistance
LATEST PRICE: 1.2674
SUP 1: Sgd1.2649 – Monthly low June 19
SUP 2: Sgd1.2622 – 100 day moving average
SUP 3: Sgd1.2546 – Low May 15
SUP 4: Sgd1.2447 – Low May 8
EasyForexNews Research Team