AUD/USD: $1.0200-30 region seen as key support. The $1.0200-30 region is shaping up as key support for the AUD/USD with the 21 and 100 day MA’s and a medium term rising daily trend line off the June 8 lows all converging in this region. The daily Directional Movement Indicator (DMI) is also at risk of a bearish crossover which would add further weight to a correction with initial
focus then on June 25 lows.
RES 4: $1.0556 – High March 27
RES 3: $1.0474 – Monthly high Apr 27
RES 2: $1.0444 – High July 19
RES 1: $1.0320 – Hourly resistance July 23
LATEST PRICE: 1.0283
SUP 1: $1.0228 – 21 day moving average
SUP 2: $1.0201 – Low July 16
SUP 3: $1.0101 – Low July 12
SUP 4: $0.9972 – Low June 25
NZD/USD: Spikes below Ichimoku cloud base. The move towards the base of the defining $0.7842-0.8072 range continues as the pair spiked below both the flat Ichimoku cloud top and the 100 week moving average to start the week. Stops are expected below the June 28 lows with a close below seeing initial focus shift back to tests of June 8 lows.
RES 4: $0.8083 – 61.8% retracement of $0.8461-0.7461 move
RES 3: $0.8072 – Monthly high July 5
RES 2: $0.7969 – 100 day moving average
RES 1: $0.7930 – Hourly resistance July 23
LATEST PRICE: 0.7895
SUP 1: $0.7860 – 21 day lower Bollinger band
SUP 2: $0.7842 – Low June 28
SUP 3: $0.7799 – Previous daily resistance now support
SUP 4: $0.7733 – Low June 13
AUD/JPY: Pauses ahead of Ichimoku cloud top. The pair paused ahead of the July 12 lows and the Ichimoku cloud top to start the week but pressure remains on lower levels with stops expected below the base of the defining Jpy79.33-82.33 range. The pair now needs to close back above yesterdays highs to shift focus to tests of the upper end of the JPY79.33-82.33 range.
RES 4: Jpy82.64 – 21 day upper Bollinger band
RES 3: Jpy82.33 – Monthly high July 5
RES 2: Jpy82.11 – 100 day moving average
RES 1: Jpy81.37 – High July 23
LATEST PRICE: 80.59
SUP 1: Jpy80.07 – Monthly Low July 12
SUP 2: Jpy79.33 – Low June 25
SUP 3: Jpy77.73 – Low June 8
SUP 4: Jpy77.65 – Ichimoku cloud base
USD/KRW: Remains range bound for now. USD/KRW continues to remain confined to the Krw1132.9-1165.2 July monthly range as it now looks to head higher and test the upper boundary. A break higher would see the initial focus shift to the 2012 highs from June 4 while below Krw1132.9 sees focus return to retests of 2012 lows set back on March 2.
RES 4: Krw1186.7 – 2012 High June 4
RES 3: Krw1165.2 – High June 18
RES 2: Krw1158.1 – High July 12
RES 1: Krw1155.9 – Ichimoku cloud base
LATEST PRICE: 1146.7
SUP 1: Krw1132.9 – Low July 5
SUP 2: Krw1130.1 – 21 day lower Bollinger band
SUP 3: Krw1125.1 – Low May 2
SUP 4: Krw1112.8 – 2012 Low Mar 2
USD/SGD: Pauses at the 100 day MA for now. The bounce to start the week paused right on the 100 day MA and with daily tech studies recovering from oversold levels an eventual close above the 100 day MA would see focus on the Sgd1.2700-30 region with the 200 day MA noted around Sgd1.2701 today. Initial support is seen at the Sgd1.2582 level with a close below needed to refocus
lower.
RES 4: Sgd1.2814 – 21 day upper Bollinger band
RES 3: Sgd1.2728 – High July 12 & 13
RES 2: Sgd1.2671 – High July 16
RES 1: Sgd1.2634 – 100 day moving average
LATEST PRICE: 1.2611
SUP 1: Sgd1.2582 – Alternating hourly resistance/support
SUP 2: Sgd1.2521 – 21 day lower Bollinger band
SUP 3: Sgd1.2447 – Low May 8
SUP 4: Sgd1.2349 – 2012 Low April 30
EasyForexNews Research Team