AUD/USD: Struggles to hold above $1.0300. The AUD continues to struggle to hold above the $1.0300 level and a close above is needed to retain the overall focus on tests of the April monthly highs. The $1.0158 support from June 29 is key downside with a close below needed to shift focus lower. Tests of the rising 21 day Bollinger continue with more expected while $1.0158 remains in play.
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: $1.0330 – High July 5
LATEST PRICE: 1.0294
SUP 1: $1.0243 – Low July 5
SUP 2: $1.0212 – Low July 2
SUP 3: $1.0158 – Hourly support June 29
SUP 4: $0.9972 – Low June 25
AUD/JPY: 200 day MA remains pivotal. The pair is approaching the key Jpy82.50-75 resistance region with the pair having failed to close above the 100 day MA since breaking below back in late April. A close above sees focus firmly on tests of the April 13 highs. A close back below the 200 day MA is needed to shift focus lower and back to retests of 2012 lows
RES 4: Jpy86.77 – High April 2
RES 3: Jpy84.81 – High April 13
RES 2: Jpy82.71 – 100 day moving average
RES 1: Jpy82.51 – Previous daily support now resistance
LATEST PRICE: 82.24
SUP 1: Jpy80.95 – 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: Consolidates above 100 day moving average. Initial support remains at the July 22 lows with a break lower needed to shift initial focus back to $0.7842 and then 2012 lows beneath. For now we continue to look for further tests of the $0.8065-17 resistance region as the Kiwi continues to consolidate the break above the 100 day MA ($0.8012) noted last week.
RES 4: $0.8317 – High April 13
RES 3: $0.8235 – High April 30
RES 2: $0.8117 – 21 day upper Bollinger band
RES 1: $0.8083 – 61.8% retracement of $0.8461-0.7461 move
LATEST PRICE: 0.8040
SUP 1: $0.8002 – Low July 22
SUP 2: $0.7963 – Hourly support June 29
SUP 3: $0.7811 – 21 day moving average
SUP 4: $0.7842 – Low June 28
USD/SGD: Consolidates within recent ranges. USD/SGD continues to consolidate above the Sgd1.2600 level with a break above Sgd1.2750 needed to relieve the immediate downside pressure. A close above the Sgd1.2750 level then sees focus shift back to June monthly highs. Stops are expected below the Sgd1.2600 level with a break lower seeing focus on tests of the 2012 lows at Sgd1.2349 from April 30.
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: 1.2644
SUP 1: Sgd1.2607 – Low July 5
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