AUD/USD: Closes above key moving averages. The pair has closed above both 100 and 200 day moving averages with focus firmly on the April monthly highs. Back below the 2nd layer of support at $1.0158 is needed to shift the immediate focus away from a continuation higher. Spikes above the rising 21 day upper Bollinger band expected. The pair is also on target for a weekly close above the 200 wk MA.
RES 4: $1.0556 – High Mar 27
RES 3: $1.0469 – Monthly high April 30
RES 2: $1.0371 – 61.8% retracement of $1.0856-0.9584 move
RES 1: $1.0318 – 21 day upper Bollinger band
LATEST PRICE: 1.0289
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
NZD/USD: Key resistance caps on first attempt. Consolidation above the 100 day MA has seen the NZD move higher pause right on the $0.8061 resistance level. The $0.8060-85 resistance region remains key with a break above seeing initial focus shift to tests of the $0.8235-17 region which is currently favoured. A close 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: 0.8049
SUP 1: $0.8002 – Low July 22
SUP 2: $0.7963 – Hourly support June 29
SUP 3: $0.7842 – Low June 28
SUP 4: $0.7851 – 21 day moving average
AUD/JPY: Consolidates above 100 week MA. The pair traded within a narrow range with a bid bias and overall focus on a test of the April 13 highs unless the pair manages to close back below the 200 day MA. Back below the 200 day MA would see focus shift back to the June 25 lows and then the 2012 lows beneath. The pair consolidates above the 100 week MA (Jpy82.01).
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: Jpy82.35 – 21 day upper Bollinger band
LATEST PRICE: 82.15
SUP 1: Jpy80.94 – 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
USD/KRW: The pair remains heavy. USD/KRW 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: Move lower continues. The key support at Sgd1.2649 was taken out with the 100 day (Sgd1.2663) and 21 wk (Sgd1.2617) MA’s also broken along the way. Ever since the break below the 200 day MA overall focus has shifted back to tests of the 2012 lows at Sgd1.2349 from April 30. Topside a close back above the 1.2750 level is needed to confirm an end to the current move lower.
RES 4: Sgd1.2970 – Monthly high June 1
RES 3: Sgd1.2896 – 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: Sgd1.2585 – Ichimoku cloud base
SUP 2: Sgd1.2546 – Low May 15
SUP 3: Sgd1.2447 – Low May 8
SUP 4: Sgd1.2349 – 2012 Low April 30
EasyForexNews Research Team