AUD/USD: Cracks appearing in trend higher. Sharp dip Friday combined with overbought daily tech studies and failures ahead of the March 19 high could be indicating its time for a pullback for the AUD/USD. Back below the Aug 2 lows is needed to shift focus away from higher levels and back to retests of the July monthly lows, with above March 19 highs now needed to kick start topside momentum. RES 4: $1.0856 - 2012 high Feb 29 RES 3: $1.0690 - High March 6 RES 2: $1.0674 - 21 day upper Bollinger band RES 1: $1.0635 - High March 19 LATEST PRICE: 1.0577 SUP 1: $1.0498 - Hourly support Aug 3 SUP 2: $1.0436 - Low Aug 2 SUP 3: $1.0428 - 21 day moving average SUP 4: $1.0382 - Hourly support July 26 NZD/USD: $0.8069 Key support to start the week. The pullback towards initial support at $0.8069 continues with a break below needed to shift focus back to retests of July monthly lows and away from retests of the April 30 highs. Overbought daily tech studies appear to be having an impact on the move higher with a move above $0.8235 needed to keep topside hopes alive. RES 4: $0.8405 - High Mar 1 RES 3: $0.8317 - High April 13 RES 2: $0.8235 - High April 30 RES 1: $0.8166 - High Aug 8 LATEST PRICE: 0.8132 SUP 1: $0.8069 - Low Aug 1 SUP 2: $0.8047 - 21 day moving average SUP 3: $0.7992 - Low July 27 SUP 4: $0.7813 - Low July 25 AUD/JPY: Expected to remain heavy this week. Friday's dip below Jpy82.50 hints at a possible end to the current uptrend with the 200 day MA seen as somewhat pivotal. 21 day upper Bollinger band continues to rise but is starting to slow with the market likely to be watching last weeks highs very closely. Failure to take out last weeks highs early this week likely sees the 200 day MA tested. RES 4: Jpy86.81 - High April 2 RES 3: Jpy84.81 - High April 23 RES 2: Jpy84.53 - High April 27 RES 1: Jpy83.63 - 21 day upper Bollinger band LATEST PRICE: 82.78 SUP 1: Jpy82.27 - Low Aug 10 SUP 2: Jpy81.57 - Low Aug 1 SUP 3: Jpy81.46 - 200 day moving average SUP 4: Jpy81.25 - Hourly support July 27 USD/KRW: Break lower lacked follow through. Following the break to fresh 4 month lows last week the pair lacked follow through and combined with oversold daily tech studies could be hinting at a bounce back towards the 200 day MA. Above the 200 day MA is needed to shift focus back to the Krw1155-1165 region but while the 200 day MA caps the 2012 lows remain the focal point. RES 4: Krw1165.2 - High June 18 RES 3: Krw1158.1 - High July 12 RES 2: Krw1154.6 - Ichimoku cloud base RES 1: Krw1141.1 - 200 day moving average LATEST PRICE: 1130.4 SUP 1: Krw1124.8 - Low Aug 9 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: Sgd1.2514-38 resistance region to watch. USD/SGD ended last week looking heavy once again with the pair continuing to target retests of the 2012 lows until it can manage a close above resistance in the Sgd1.2514-38 region. Oversold daily tech studies remain a concern as does a now correcting falling 21 day lower Bollinger band but for now the trend lower remains in play. RES 4: Sgd1.2644 - High July 25 RES 3: Sgd1.2615 - 100 day moving average RES 2: Sgd1.2538 - Hourly resistance July 27 RES 1: Sgd1.2514 - High Aug 2 LATEST PRICE: 1.2441 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
