AUD/USD: Move higher continues. Fresh 2-mth highs continue as the AUD/USD heads towards the initial target at $1.0474. Back below the 200 day MA is needed to shift focus lower once more and while we remain above overall focus shifts to tests of the 2012 highs. The 21 day upper Bollinger band ($1.0425) continues to head higher with spikes above expected to continue.
RES 4: $1.0856 – 2012 High Feb 29
RES 3: $1.0635 – High March 19
RES 2: $1.0556 – High March 27
RES 1: $1.0474 – Monthly high Apr 27
LATEST PRICE: 1.0425
SUP 1: $1.0357 – Low July 19
SUP 2: $1.0282 – 200 day moving average
SUP 3: $1.0236 – Low July 17
SUP 4: $1.0201 – Low July 16
NZD/USD: Focus shifting to higher levels. The Kiwi is finally heading towards the upper end of the recent $0.7842-0.8072 range with a break higher seeing focus shift to the $0.8235-20 region last seen back tin April/May. Layer of resistance remain in the $0.8070-85 region but with the 21 day upper Bollinger band heading higher a break higher is favoured.
RES 4: $0.8235 – High April 30
RES 3: $0.8083 – 61.8% retracement of $0.8461-0.7461 move
RES 2: $0.8076 – 21 day upper Bollinger band
RES 1: $0.8072 – Monthly high July 5
LATEST PRICE: 0.8029
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: 21 day upper Bollinger heading higher. The pair continues to edge close to resistance in the Jpy82.30-60 region with a break above shifting initial focus to tests of the 61.8% Fibonacci level and then April 13 highs above. Back below the 200 day moving average is needed to shift focus back to retests of the lower end of the recent Jpy79.33-82.33 range.
RES 4: Jpy84.81 – High April 13
RES 3: Jpy83.24 – 61.8% retracement of Jpy74.51-88.64 move
RES 2: Jpy82.61 – 21 day upper Bollinger band
RES 1: Jpy82.30 – 100 day moving average
LATEST PRICE: 81.93
SUP 1: Jpy81.30 – 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: Makes headway below 21 day MA. The move lower towards the base of the Krw1132.9-1165.2 range continues with a break lower needed to see focus shift to retests of 2012 lows. Topside the pair needs to close back above the Krw1158.1 July 12 highs to shift focus away from initial tests of the Krw1132.9 level. Stops are expected below with a break lower likely to be slower by the lower Bollinger band.
RES 4: Krw1186.7 – 2012 High June 4
RES 3: Krw1165.2 – High June 18
RES 2: Krw1158.1 – High July 12
RES 1: Krw1146.5 – 21 day moving average
LATEST PRICE: 1139.6
SUP 1: Krw1132.9 – Low July 5
SUP 2: Krw1130.3 – 21 day lower Bollinger band
SUP 3: Krw1125.1 – Low May 2
SUP 4: Krw1112.8 – 2012 Low Mar 2
USD/SGD: 21 day lower Bollinger tests to continue. Fresh 9 week lows continue to be set with 2012 lows the overall focus until USD/SGD can close back above the 100 day moving average at Sgd1.2632. The 21 day lower Bollinger band (Sgd1.2537) continues to head lower with continues spikes below expected. Daily tech studies are in o/s territory but are unlikely to have an impact just yet.
RES 4: Sgd1.2748 – High July 6
RES 3: Sgd1.2728 – High July 12 & 13
RES 2: Sgd1.2671 – High July 16
RES 1: Sgd1.2582 – High July 19
LATEST PRICE: 1.2534
SUP 1: Sgd1.2447 – Low May 8
SUP 2: Sgd1.2349 – 2012 Low April 30
SUP 3: Sgd1.2283 – Weekly Low Sept 12 2012
SUP 4: Sgd1.1995 – Weekly Low July 25
EasyForexNews Research Team