AUD/USD: Starting the week looking heavy. The AUD risks taking out the $1.0158 support that we noted as pivotal last week with a break lower seeing focus shift to tests of the 21 day lower Bollinger band and then the 2012 lows beneath. Daily tech studies are correcting lower from just short of o/b levels and the failure to end last week above key moving averages also weighs
on the pair.
RES 4: $1.0469 – Monthly high April 30
RES 3: $1.0371 – 61.8% retracement of $1.0856-0.9584 move
RES 2: $1.0330 – High July 5
RES 1: $1.0242 – Previous hourly support now resistance
LATEST PRICE: 1.0198
SUP 1: $1.0158 – Hourly support June 29
SUP 2: $1.0096 – 21 day moving average
SUP 3: $0.9972 – Low June 25
SUP 4: $0.9849 – 21 day lower Bollinger band
AUD/JPY: 200 day MA break targeted this week. AUD/JPY was rejected at the Jpy82.50-75 resistance region on its first attempt last week and has managed to find support at the 200 day MA for now. The pair is expected to start the week on a heavy note with a test of June 25 lows favoured this week with a close above the 100 day MA needed to refocus attention on higher levels.
RES 4: Jpy86.77 – High April 2
RES 3: Jpy84.81 – High April 13
RES 2: Jpy82.67 – 100 day moving average
RES 1: Jpy82.51 – Previous daily support now resistance
LATEST PRICE: 81.22
SUP 1: Jpy80.98 – 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: Lower levels targeted this week. Although the NZD managed to end the week above the somewhat pivotal 200 day ma ($0.7949) the pair remains heavy with daily tech studies correcting from o/b levels and a test of the June 28 lows now initially favoured. The pair needs to close back above last weeks highs and the key 61.8% Fibonacci retracement level to shift focus higher.
RES 4: $0.8317 – High April 13
RES 3: $0.8235 – High April 30
RES 2: $0.8114 – 21 day upper Bollinger band
RES 1: $0.8083 – 61.8% retracement of $0.8461-0.7461 move
LATEST PRICE: 0.7970
SUP 1: $0.7963 – Hourly support June 29
SUP 2: $0.7949 – 200 day moving average
SUP 3: $0.7905 – 21 day moving average
SUP 4: $0.7842 – Low June 28
USD/SGD: Sgd1.2610-1.2890 range trading this week. The July 5 lows with be watched closely downside with the pair having bounced back towards initial resistance on Friday following a double daily bottom around Sgd1.2607. The risk this week is for a continuation higher that sees the Sgd1.2885-95 region retested with below the July 5 lows needed to negate this view.
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: 1.2729
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