AUD/USD: Fresh 4 month highs. Tests of the sharply rising 21 day upper Bollinger band nd daily channel top continue with initial focus on Mar 19 highs. Daily tech studies remain in overbought territory but the pair needs to close below the Aug 2 lows to shift focus lower once more.
RES 4: $1.0856 – 2012 high Feb 29
RES 3: $1.0690 – High March 6
RES 2: $1.0635 – High March 19
RES 1: $1.0616 – 21 day upper Bollinger band
LATEST PRICE: 1.0581
SUP 1: $1.0536 – Hourly support Aug 6
SUP 2: $1.0498 – Hourly support Aug 3
SUP 3: $1.0436 – Low Aug 2
SUP 4: $1.0382 – Hourly support July 26
NZD/USD: Grind higher continues. The NZD continues to head towards the initial topside target at $0.8235 with overall focus remaining on potential retests of the 2012 highs. Downside the pair needs to close back below the $0.8069 low from last week in order to see focus shift lower once more. Daily tech studies remain in overbought territory.
RES 4: $0.8469 – 2012 high Feb 29
RES 3: $0.8405 – High Mar 1
RES 2: $0.8317 – High April 13
RES 1: $0.8235 – High April 30
LATEST PRICE: 0.8207
SUP 1: $0.8164 – Low Aug 6
SUP 2: $0.8128 – Hourly support Aug 3
SUP 3: $0.8069 – Low Aug 1
SUP 4: $0.7992 – Low July 27
AUD/JPY: Fresh highs continue, trend in place. Fresh 3 month highs once again for the pair as the spikes above the rising 21 day upper Bollinger band (Jpy83.01) continue. Initial focus remains on retests of the Jpy84.53-81 region with a close back below the 200 day moving average needed to shift focus lower and back towards July monthly lows.
RES 4: Jpy87.57 – High Mar 27
RES 3: Jpy86.81 – High April 2
RES 2: Jpy84.81 – High April 23
RES 1: Jpy84.53 – High April 27
LATEST PRICE: 82.74
SUP 1: Jpy82.55 – Hourly support Aug 6
SUP 2: Jpy81.57 – Low Aug 1
SUP 3: Jpy81.41 – 200 day moving average
SUP 4: Jpy81.25 – Hourly support July 27
USD/KRW: Pressure remains on key support. Pressure continues to build on the May 2 lows and the stops that are lurking below, as the pair continues to focus on retests of 2012 lows last seen back in early March. Topside the pair needs to close back above the July 12 highs to end the move lower and shift initial focus back towards the June monthly highs at Krw1186.9.
RES 4: Krw1165.2 – High June 18
RES 3: Krw1158.1 – High July 12
RES 2: Krw1155.9 – Ichimoku cloud base
RES 1: Krw1141.5 – 200 day moving average
LATEST PRICE: 1127.8
SUP 1: Krw1125.1 – Low May 2
SUP 2: Krw1122.3 – 100 week moving average
SUP 3: Krw1112.8 – 2012 Low Mar 2
SUP 4: Krw1092.5 – Low Sept 14
USD/SGD: 2012 lows not far below. USD/SGD continues to head towards the 2012 lows as the falling 21 day lower Bollinger band continues to guide the pair lower. Topside the pair needs to close above the Aug 2 highs to hint at a change in focus back towards July 25 highs.
RES 4: Sgd1.2575 – 21 day moving average
RES 3: Sgd1.2538 – Hourly resistance July 27
RES 2: Sgd1.2514 – High Aug 2
RES 1: Sgd1.2429 – High Aug 6
LATEST PRICE: 1.2414
SUP 1: Sgd1.2381 – 21 day lower Bollinger band
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