AUD/USD: Double daily bottom with stops below. A double daily bottom is now in place just below $1.0500 with stops noted below. Overall we continue to look for a move below the Aug 2 lows to confirm an end to the move higher and see focus shift back to tests of 200 and 100 day moving averages and then July monthly lows beneath. Topside, above March 19 highs is still needed to re-ignite topside hopes.
RES 4: $1.0690 – High March 6
RES 3: $1.0673 – 21 day upper Bollinger band
RES 2: $1.0635 – High March 19
RES 1: $1.0578 – High Aug 10
LATEST PRICE: 1.0521
SUP 1: $1.0498 – Double daily bottom Aug 10 & 13
SUP 2: $1.0442 – 21 day moving average
SUP 3: $1.0436 – Low Aug 2
SUP 4: $1.0382 – Hourly support July 26
NZD/USD: Remains heavy, $0.8069 to be tested soon. The pattern of lower daily highs and lows continues as the pair edges closer to the somewhat pivotal initial support at $0.8069. Back below this level is needed to confirm an end to the move higher and shift overall focus back to retests of July lows. Daily tech studies have begun their correction from o/b levels and should weigh on the pair.
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: 0.8090
SUP 1: $0.8069 – Low Aug 1
SUP 2: $0.8053 – 21 day moving average
SUP 3: $0.7992 – Low July 27
SUP 4: $0.7970 – 200 day moving average
AUD/JPY: Fresh two week lows. Fresh two week lows yesterday as the pair dipped below the 100 week MA (Jpy82.27) with a test of the 200 day MA now the initial focus until the pair manages to break above last weeks highs. The 200 day MA is seen as somewhat pivotal with a break below then shifting focus 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: Jpy83.36 – High Aug 9
LATEST PRICE: 82.41
SUP 1: Jpy81.90 – 21 day moving average
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: 200 day ma key resistance. USD/KRW looks set to continue its sideways trading below the 200 day MA with focus remaining on retests of 2012 lows until the pair can manage a break above the 200 day MA. Very oversold daily tech studies showing signs of correcting could slow the move lower until they can work off some of their oversold condition.
RES 4: Krw1165.2 – High June 18
RES 3: Krw1158.1 – High July 12
RES 2: Krw1154.4 – Ichimoku cloud base
RES 1: Krw1141.8 – 200 day moving average
LATEST PRICE: 1132.0
SUP 1: Krw1124.8 – Low Aug 9
SUP 2: Krw1122.0 – 100 week moving average
SUP 3: Krw1112.8 – 2012 Low Mar 2
SUP 4: Krw1092.5 – Low Sept 14
USD/SGD: Daily tech studies remain oversold. USD/SGD Continues to remain comfortably below the falling 21 day moving average (Sgd1.2506) with back above the Sgd1.2514-38 region needed to shift the focus away from retests of the 2012 lows. Oversold daily tech studies remain a concern and may slow the move lower until they can work they way back to more neutral territory.
RES 4: Sgd1.2614 – 100 day moving average
RES 3: Sgd1.2538 – Hourly resistance July 27
RES 2: Sgd1.2514 – High Aug 2
RES 1: Sgd1.2478 – High Aug 10
LATEST PRICE: 1.2459
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