AUD/USD: Starting to look a little tired. Failure by the AUD/USD to retest the Aug 7 highs on yesterday’s bounce combined with overbought daily techs looking to correct could be hinting at a pullback. The Aug 2 lows remain key overall but back below initial hourly support sees the topside pressure relieved for the time being. at $1.0436 to shift focus back towards retests of July monthly lows.
RES 4: $1.0856 – 2012 high Feb 29
RES 3: $1.0690 – High March 6
RES 2: $1.0635 – High March 19
RES 1: $1.0602 – High Aug 7
LATEST PRICE: 1.0569
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: Daily tech studies correcting overbought. The sequence of lower daily highs and lows combined with daily tech studies looking to correct from overbought levels is hinting at a correction. Back below Aug 1 lows would now be enough to shift focus lower and back to overall retests of July monthly lows. Topside above $0.8235 is needed to keep topside hopes alive.
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: 0.8155
SUP 1: $0.8069 – Low Aug 1
SUP 2: $0.8029 – 21 day moving average
SUP 3: $0.7992 – Low July 27
SUP 4: $0.7813 – Low July 25
AUD/JPY: Starting to struggle topside. The pair remains confined to a Jpy82.52-83.22 range for now as daily tech studies look to correct from overbought levels. A break topside is needed to retain focus on the Jpy84.53-81 region, whereas a break lower sees focus shift initially to the 200 day moving average and then overall back 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: Jpy83.39 – 21 day upper Bollinger band
LATEST PRICE: 83.00
SUP 1: Jpy82.52 – Low Aug 7
SUP 2: Jpy81.57 – Low Aug 1
SUP 3: Jpy81.44 – 200 day moving average
SUP 4: Jpy81.25 – Hourly support July 27
USD/KRW: Little changed, pressure remains for now. Repeated attempts at the May 2 low support have come up short, but until the pair can close back above the 200 day moving average pressure on the lower levels is expected to continue. Daily tech studies that are now looking to correct from oversold levels could be an impediment to the immediate move lower and fuel a correction back to the 200 day MA.
RES 4: Krw1165.2 – High June 18
RES 3: Krw1158.1 – High July 12
RES 2: Krw1155.9 – Ichimoku cloud base
RES 1: Krw1141.6 – 200 day moving average
LATEST PRICE: 1129.5
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: Hinting at a correction higher. The double daily bottom around Sgd1.2400 combined with correcting oversold daily tech studies and the sharp spike higher could see focus shift back to the July 25 highs. First the pair needs to take out the first decent layer of resistance in the Sgd1.2514-38 region or else continues tests of the Aug 6 lows are expected.
RES 4: Sgd1.2644 – High July 25
RES 3: Sgd1.2619 – 100 day moving average
RES 2: Sgd1.2538 – Hourly resistance July 27
RES 1: Sgd1.2514 – High Aug 2
LATEST PRICE: 1.2442
SUP 1: Sgd1.2400 – Low Aug 6
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