AUD/USD: Focus now on April monthly highs. Break to fresh 2-mth highs o/n saw the pair pause at the 61.8% Fibonacci retracement of the move from 2012 highs to 2012 lows. Initial focus now shifts to tests of the Apr monthly highs with a break above then seeing retests of 2012 highs come back into the picture. 21 day Bollinger continues to rise with continued tests now expected.
RES 4: $1.0556 – High March 27
RES 3: $1.0474 – Monthly high Apr 27
RES 2: $1.0390 – 21 day upper Bollinger band
RES 1: $1.0371 – 61.8% retracement of $1.0856-0.9584 move
LATEST PRICE: 1.0365
SUP 1: $1.0280 – 200 day moving average
SUP 2: $1.0236 – Low July 17
SUP 3: $1.0201 – Low July 16
SUP 4: $1.0165 – Low July 12
NZD/USD: Gently bid but remains rangebound for now. The NZD continues to tread water pretty much in the middle of the recent $0.7842-0.8072 range with a break of either side likely to yield the next trending move. The 21 day upper Bollinger is heading gently higher but layers of resistance remain in the $0.8070-83 region with a break higher needed to shift initial focus to April 30
highs.
RES 4: $0.8235 – High April 30
RES 3: $0.8083 – 61.8% retracement of $0.8461-0.7461 move
RES 2: $0.8072 – Monthly high July 5
RES 1: $0.8070 – 21 day upper Bollinger band
LATEST PRICE: 0.8000
SUP 1: $0.7925 – Low July 18
SUP 2: $0.7889 – Ichimoku cloud top
SUP 3: $0.7842 – Low June 28
SUP 4: $0.7733 – Low June 13
AUD/JPY: Making headway above cloud top. The sequence of higher daily lows and highs continues with AUD/JPY finally making headway above the 200 day MA and Ichimoku cloud top, but needing to take out resistance in the Jpy82.30-35 region with July monthly highs noted at Jpy82.33. Above the Jpy82.30-35 region sees initial focus turn to retests of the April 13 highs.
RES 4: Jpy84.81 – High April 13
RES 3: Jpy83.24 – 61.8% retracement of Jpy74.51-88.64 move
RES 2: Jpy82.30 – 100 day moving average
RES 1: Jpy81.79 – High July 11
LATEST PRICE: 81.71
SUP 1: Jpy81.28 – 200 day moving average
SUP 2: Jpy80.45 – Hourly support July 13-17
SUP 3: Jpy80.07 – Low July 12
SUP 4: Jpy79.33 – Low June 25
USD/KRW: Test of range base looking likely. USD/KRW is heading back towards the base of the Krw1132.9-1165.2 range with a break lower needed to see focus shift to retests of 2012 lows. Daily tech studies are largely at neutral levels and have plenty of room to move downside before becoming oversold is an issue. 21 day lower Bollinger adds significance to the Krw1131.0-1132.9 region.
RES 4: Krw1186.7 – 2012 High June 4
RES 3: Krw1165.2 – High June 18
RES 2: Krw1158.1 – High July 12
RES 1: Krw1147.1 – 21 day moving average
LATEST PRICE: 1142.8
SUP 1: Krw1132.9 – Low July 5
SUP 2: Krw1131.0 – 21 day lower Bollinger band
SUP 3: Krw1125.1 – Low May 2
SUP 4: Krw1112.8 – 2012 Low Mar 2
USD/SGD: Lower levels remain in focus. The bearish close Wednesday has been followed up with yet another fresh 9 week low as the pair now sees initial focus shift to tests of the May 15 lows with back above the July 16 highs needed to negate this view. 21 day lower Bollinger continues to head lower with continued tests expected as USD/SGD works its way down. Daily techs now approaching o/s region
RES 4: Sgd1.2825 – 21 day upper Bollinger band
RES 3: Sgd1.2748 – High July 6
RES 2: Sgd1.2728 – High July 12 & 13
RES 1: Sgd1.2671 – High July 16
LATEST PRICE: 1.2577
SUP 1: Sgd1.2562 – 21 day lower Bollinger band
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