AUD/USD: Focus remains on higher levels. Oscillation around the rising 21 day upper Bollinger band continues ($1.0515) as the pair edges closer to the March 27 highs with overall focus remaining on tests of the $1.0856 2012 highs. Back below the $1.0382 hourly support from July 26 is needed to see doubts about the move higher creep in with below the 200 day MA confirming a shift lower in focus.
RES 4: $1.0856 – 2012 high Feb 29
RES 3: $1.0690 – High March 6
RES 2: $1.0635 – High March 19
RES 1: $1.0556 – High March 27
LATEST PRICE: 1.0504
SUP 1: $1.0382 – Hourly support July 26
SUP 2: $1.0284 – 200 day moving average
SUP 3: $1.0193 – 100 day moving average
SUP 4: $1.0180 – Low July 16
NZD/USD: 21 day upper Bollinger continues to cap. The rising 21 day upper Bollinger band continues to act as a good guide for the move higher with it again capping yesterday’s move as fresh 3 month highs continue. Overall back below the July 27 low is needed to hint at an end to the move higher with a close below the 200 day moving average needed to confirm.
RES 4: $0.8469 – 2012 high Feb 29
RES 3: $0.8317 – High April 13
RES 2: $0.8235 – High April 30
RES 1: $0.8124 – 21 day upper Bollinger band
LATEST PRICE: 0.8085
SUP 1: $0.7992 – Low July 27
SUP 2: $0.7965 – 200 day moving average
SUP 3: $0.7905 – Hourly support July 26
SUP 4: $0.7813 – Monthly Low July 25
AUD/JPY: Minor fresh 3 month highs again. Minor fresh 3 month highs once again as the pair hesitates ahead of the Jpy82.50 level and the gently rising upper 21 day Bollinger band just above. Until the pair can manage a close back below the Jpy81.25 level initial focus remains on the Jpy84.50-80 region while back below Jpy81.25 shifts focus to retests of July monthly lows.
RES 4: Jpy86.81 – High April 2
RES 3: Jpy84.81 – High April 23
RES 2: Jpy84.53 – High April 27
RES 1: Jpy82.72 – 21 day upper Bollinger band
LATEST PRICE: 82.08
SUP 1: Jpy81.25 – Hourly support July 27
SUP 2: Jpy80.30 – Hourly support July 26
SUP 3: Jpy80.06 – 21 day lower Bollinger band
SUP 4: Jpy79.33 – Low June 25
USD/KRW: 2012 lows firmly in focus. USD/KRW finally broke to fresh three month lows before bouncing to close just above the now falling 21 day lower Bollinger band. The pair paused ahead of the May 2 lows but a break lower that retests the 2012 lows remains favoured until the pair can manage a close back above the 200 day moving average noted at Krw1141.2.
RES 4: Krw1165.2 – High June 18
RES 3: Krw1158.1 – High July 12
RES 2: Krw1155.9 – Ichimoku cloud base
RES 1: Krw1141.2 – 200 day moving average
LATEST PRICE: 1136.4
SUP 1: Krw1130.1 – 21 day lower Bollinger band
SUP 2: Krw1125.1 – Low May 2
SUP 3: Krw1122.7 – 100 week moving average
SUP 4: Krw1112.8 – 2012 Low Mar 2
USD/SGD: 2012 lows remain if focus. The move towards retests of the 2012 lows from April 30 continues as does oscillation around the falling 21 day lower Bollinger band (Sgd1.2446). Closes below the lower Bollinger remain rare and are seen as an indication that the trend is getting a little ahead of itself. Topside we need to see a close back above the Sgd1.2538 level to place the move lower on hold.
RES 4: Sgd1.2601 – 21 day moving average
RES 3: Sgd1.2585 – Hourly resistance July 26
RES 2: Sgd1.2538 – Hourly resistance July 27
RES 1: Sgd1.2500 – Alternating hourly resistance/support
LATEST PRICE: 1.2451
SUP 1: Sgd1.2430 – Low July 31
SUP 2: Sgd1.2349 – 2012 Low April 30
SUP 3: Sgd1.2283 – Monthly low Sept 2011
SUP 4: Sgd1.2000 – Key psychological support
EasyForexNews Research Team