AUD/USD: Takes out the 21 day moving average. Back below the 21 day MA has seen initial focus shift to tests of the $0.9972-99 region with a close back above the 21 day MA needed to hint at $1.0100-1.0330 range trading ahead. Daily tech studies continue to correct from overbought levels with plenty of room to move before becoming oversold becomes an issue.
RES 4: $1.0371 – 61.8% retracement of $1.0856-0.9584 move
RES 3: $1.0330 – High July 5
RES 2: $1.0282 – High July 11
RES 1: $1.0155 – 21 day moving average
LATEST PRICE: 1.0141
SUP 1: $1.0101 – Low July 12
SUP 2: $0.9972 – Low June 25
SUP 3: $0.9922 – Low June 14
SUP 4: $0.9823 – Low June 8
NZD/USD: $0.7840-45 region now key support. Wednesdays failure at the 100 day MA has been followed up with a break below the 21 day MA and the triple daily bottom with the pair pulling up just short of the $0.7840-45 region. A close back above the 21 day MA is needed to hint at range trading ahead. While the pair remains capped at the 21 day MA pressure remains on lower levels.
RES 4: $0.8093 – 21 day upper Bollinger band
RES 3: $0.8083 – 61.8% retracement of $0.8461-0.7461 move
RES 2: $0.8000 – 100 day moving average
RES 1: $0.7935 – Prev triple daily bottom now resistance
LATEST PRICE: 0.7905
SUP 1: $0.7842 – Low June 28
SUP 2: $0.7820 – 21 lower Bollinger band
SUP 3: $0.7698 – Ichimoku cloud base
SUP 4: $0.7671 – Low June 12
AUD/JPY: Closes below pivotal 21 day MA. The close below the 21 day MA now sees the initial focus on tests of June 25 lows with a break lower then seeing the 2012 lows come back into the picture. Overall the pair has traded a Jpy79.33-82.40 range the past 4 weeks with this range expected to remain. Topside the Jpy82.50 level remains key with the 100 day MA just above.
RES 4: Jpy84.81 – High April 13
RES 3: Jpy83.24 – 61.8% retracement of Jpy74.51-88.64 move
RES 2: Jpy82.52 – 100 day moving average
RES 1: Jpy80.82 – 21 day moving average
LATEST PRICE: 80.40
SUP 1: Jpy79.33 – Low June 25
SUP 2: Jpy79.10 – 21 day lower Bollinger band
SUP 3: Jpy78.67 – 200 week moving average
SUP 4: Jpy77.73 – Low June 8
USD/KRW: Bounce sees focus shift higher. The resulting bounce from the double daily bottom has taken out the alternating Krw1147.7 support/resistance level and the falling trend line off June monthly highs with initial focus on tests of the June 18 highs and then the 2012 highs overall. Initial support is now noted at the pivotal Krw1147.7 with a close below needed to shift focus lower once more.
RES 4: Krw1186.7 – 2012 High June 4
RES 3: Krw1169.2 – 21 day upper Bollinger band
RES 2: Krw1165.2 – High June 18
RES 1: Krw1160.4 – High June 28
LATEST PRICE: 1151.5
SUP 1: Krw1147.7 – Alternating daily support/resistance
SUP 2: Krw1140.0 – Low July 10
SUP 3: Krw1132.9 – Low July 5
SUP 4: Krw1125.1 – Low May 2
USD/SGD: Bounces from triple daily bottom. The triple daily bottom in the Sgd1.2607-14 region confirmed its significance with a bounce that saw a spike above the 21 day MA. Further range trading within a Sgd1.2607-1.2748 range is expected to round out the week with above Sgd1.2748 needed to shift focus back to retests of 2012 highs. Daily tech studies continue to correct from oversold levels.
RES 4: Sgd1.2888 – High June 8
RES 3: Sgd1.2823 – 21 day upper Bollinger band
RES 2: Sgd1.2748 – High July 6
RES 1: Sgd1.2711 – 21 day moving average
LATEST PRICE: 1.2697
SUP 1: Sgd1.2607 – Low July 5
SUP 2: Sgd1.2600 – 21 day lower Bollinger band
SUP 3: Sgd1.2546 – Low May 15
SUP 4: Sgd1.2447 – Low May 8
EasyForexNews Research Team