AUD/USD: Key support holds on the first attempt. The pair dipped below the 21 day MA overnight but bouncing on its first attempt from the $1.0200-30 region identified as key support with a medium term rising daily trend line off the June 8 lows continuing to support. Below this level is likely to see the DMI turn bearish for the first time in nearly two months and initially target the 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: 1.0243
SUP 1: $1.0231 – 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 lower Bollinger band. NZD traded at the lowest levels since June 15 before ending the session back above the lower 21 day Bollinger band which remains relatively flat. Focus returns to tests of June 8 lows until we can close above the 100 day moving average with initial resistance remaining at the $0.7930 level.
RES 4: $0.8083 – 61.8% retracement of $0.8461-0.7461 move
RES 3: $0.8072 – Monthly high July 5
RES 2: $0.7963 – 100 day moving average
RES 1: $0.7930 – Hourly resistance July 23
LATEST PRICE: 0.7856
SUP 1: $0.7839 – Low June 28
SUP 2: $0.7799 – Previous daily resistance now support
SUP 3: $0.7733 – Low June 13
SUP 4: $0.7617 – Low June 8
AUD/JPY: Fresh July monthly lows . Fresh July monthly lows for AUD/JPY as the pair pulled up just ahead of the 21 day lower Bollinger band and the next key support noted at the June 25 lows. Back above the 21 day moving average is needed to shift focus back to retests of the 100 day MA and away from the now favoured June 8 low retests.
RES 4: Jpy82.62 – 21 day upper Bollinger band
RES 3: Jpy82.33 – Monthly high July 5
RES 2: Jpy82.11 – 100 day moving average
RES 1: Jpy81.09 – 21 day moving average
LATEST PRICE: 79.96
SUP 1: Jpy79.55 – 21 day lower Bollinger band
SUP 2: Jpy79.33 – Low June 25
SUP 3: Jpy77.73 – Low June 8
SUP 4: Jpy77.65 – Ichimoku cloud base
USD/SGD: 100 day MA continues to cap. An inside day for USD/SGD yesterday as the pair continues to pause ahead of the 100 day moving average. Back above the 100 MA sees the double daily top at Sgd1.2728 retested with a break above then shifting focus back to the 2012 highs. The Sgd1.2528 level remains initial support with back below needed to negate current topside hopes.
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: Sgd1.2640 – 100 day moving average
LATEST PRICE: 1.2624
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