AUD/USD: $1.0101-1.0330 range likely this week. Previous break below the 21 day ma was reversed sharply with the pair pausing at the 100 day ma. This week is likely to see further whippy sideways trading within a $1.0101-1.0330 range with a break of either side expected to determine the direction of the next trend. The 200 day ma adds significance to the resistance around the $1.0275-80 region.
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: $1.0228 – 100 day moving average
LATEST PRICE: $1.0238
SUP 1: $1.0165 – Low July 12
SUP 2: $1.0101 – Low July 12
SUP 3: $0.9972 – Low June 25
SUP 4: $0.9922 – Low June 14
NZD/USD: Bounces off key support. NZD is now expected to trade sideways within the recent $0.7842 to $0.8072 range following the bounce from ahead of June 28 lows on Friday. The 100 week ma is seen supporting at $0.7877 adding significance to the key support noted in the $0.7840-80 region with decent stops expected on a break below.
RES 4: $0.8083 – 61.8% retracement of $0.8461-0.7461 move
RES 3: $0.8065 – 21 day upper Bollinger band
RES 2: $0.7991 – 100 day moving average
RES 1: $0.7962 – 200 day moving average
LATEST PRICE: $0.7970
SUP 1: $0.7935 – Alternating hourly support/resistance
SUP 2: $0.7842 – Low June 28
SUP 3: $0.7837 – 21 lower Bollinger band
SUP 4: $0.7651 – Ichimoku cloud top
AUD/JPY: Whippy sideways trading likely. Recent oscillation around the 21 day ma hints at continued whippy trading within a Y79.33-82.33 range with the 100 day ma noted just above at Y82.46. A break of these range parameters is needed to see the pair shift focus to retests of either 2012 highs or 2012 lows and away from sideways trading.
RES 4: Y84.81 – High April 13
RES 3: Y83.24 – 61.8% retracement of Y74.51-88.64 move
RES 2: Y82.46 – 100 day moving average
RES 1: Y81.79 – High July 11
LATEST PRICE: Y81.03
SUP 1: Y80.07 – Low July 12
SUP 2: Y79.33 – Low June 25
SUP 3: Y78.67 – 200 week moving average
SUP 4: Y77.73 – Low June 8
USD/KRW: Krw1132.9 remains key support. Reversal from Thursdays highs, back below the Ichimoku Cloud base and failure ahead of layers of resistance to end last week now hint at continued range trading within a Krw1132.9-1165.2 range for the time being. Krw1132.9 remains key support and back below this level would see focus shift back to tests of the March monthly lows.
RES 4: Krw1186.7 – 2012 High June 4
RES 3: Krw1167.6 – 21 day upper Bollinger band
RES 2: Krw1165.2 – High June 18
RES 1: Krw1160.4 – High June 28
LATEST PRICE: Krw1150.20
SUP 1: Krw1147.0 – 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: Stops noted below key support. Continued range trading within a Sgd1.2607-1.2748 range is expected to start the week with a break of either side needed to shift focus from continued whippy sideways trading. Daily tech studies continue to correct from oversold levels which may slow the move lower but decent stops are expected below the triple daily bottom.
RES 4: Sgd1.2888 – High June 8
RES 3: Sgd1.2816 – 21 day upper Bollinger band
RES 2: Sgd1.2748 – High July 6
RES 1: Sgd1.2728 – High July 12 & 13
LATEST PRICE: Sgd1.2647
SUP 1: Sgd1.2607 – Low July 5
SUP 2: Sgd1.2595 – 21 day lower Bollinger band
SUP 3: Sgd1.2546 – Low May 15
SUP 4: Sgd1.2447 – Low May 8
EasyForexNews Research Team