AUD/USD: Pauses ahead of key resistance. The AUD/USD put in an inside day to end the week last week and opens below initial support to start the new week. Daily tech studies continue to remain in overbought territory and failure to take out April monthly highs at $1.0474 early this week will see initial focus shift back to tests of the July 16 lows with the 21 day MA noted just above.
RES 4: $1.0635 – High March 19
RES 3: $1.0556 – High March 27
RES 2: $1.0474 – Monthly high Apr 27
RES 1: $1.0444 – High July 19
LATEST PRICE: 1.0354
SUP 1: $1.0282 – 200 day moving average
SUP 2: $1.0236 – Low July 17
SUP 3: $1.0201 – Low July 16
SUP 4: $1.0101 – Low July 12
NZD/USD: Fails to break out of recent range. The pair continues to remain confined to a broad $0.7842-0.8072 range after failing to take out the upper boundary last week with focus now shifting back to retests of the range base at $0.7842. Daily tech studies remain largely neutral as a result of the past 10 weeks of sideways trading.
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: 0.7975
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: Fails at the 100 day MA hurdle.The AUD/JPY begins the new week back below the 200 day MA (Jpy81.31) with the 21 day MA supporting for now. The failure ahead of July monthly highs and the 100 day MA last week sees initial focus swing lower to retests the Jpy79.33-80.07 region. Topside the pair needs to close above the 100 day MA to kick start topside momentum.
RES 4: Jpy84.81 – High April 13
RES 3: Jpy83.24 – 61.8% retracement of Jpy74.51-88.64 move
RES 2: Jpy82.64 – 21 day upper Bollinger band
RES 1: Jpy82.30 – 100 day moving average
LATEST PRICE: 81.27
SUP 1: Jpy81.17 – 200 day moving average
SUP 2: Jpy80.45 – Hourly support July 13-17
SUP 3: Jpy80.07 – Monthly Low July 12
SUP 4: Jpy79.33 – Low June 25
USD/KRW: Broad range trading looks set to continue. It looks as though the Krw1132.9-1165.2 range trading that has defined for the past 4 weeks is going to continue with a break back above the 21 day MA needed to confirm and remove the initial focus from retests of the lower boundary. A break of the defining range is needed to inject fresh life into the pair.
RES 4: Krw1186.7 – 2012 High June 4
RES 3: Krw1165.2 – High June 18
RES 2: Krw1158.1 – High July 12
RES 1: Krw1146.0 – 21 day moving average
LATEST PRICE: 1141.3
SUP 1: Krw1132.9 – Low July 5
SUP 2: Krw1129.7 – 21 day lower Bollinger band
SUP 3: Krw1125.1 – Low May 2
SUP 4: Krw1112.8 – 2012 Low Mar 2
USD/SGD: Inside day to end last week. An inside day to end last week as USD/SGD bounced from the still falling 21 day lower Bollinger band. Failure to break below the Sgd1.2525-30 region to start the week should see initial focus shift back to tests of the 100 day MA and then the double daily top at Sgd1.2728. Daily tech studies are oversold and looking to correct.
RES 4: Sgd1.2728 – High July 12 & 13
RES 3: Sgd1.2671 – High July 16
RES 2: Sgd1.2633 – 100 day moving average
RES 1: Sgd1.2582 – High July 19
LATEST PRICE: 1.2560
SUP 1: Sgd1.2525 – 21 day lower Bollinger band
SUP 2: Sgd1.2447 – Low May 8
SUP 3: Sgd1.2349 – 2012 Low April 30
SUP 4: Sgd1.2283 – Weekly Low Sept 12 2012
EasyForexNews Research Team