AUD/USD: Remains heavy, key support below. The double daily bottom didn’t last long with the break lower pausing ahead of initial support in the $1.0436-54 region. Below the Aug 2 lows is needed to confirm and end to the move higher and see focus shift back to tests of 200 and 100 day moving averages and then July monthly lows. Daily techs and upper Bollinger band now correcting from lofty levels.
RES 4: $1.0669 – 21 day upper Bollinger band
RES 3: $1.0635 – High March 19
RES 2: $1.0578 – High Aug 10
RES 1: $1.0542 – High Aug 14
LATEST PRICE: 1.0495
SUP 1: $1.0454 – 21 day moving average
SUP 2: $1.0436 – Low Aug 2
SUP 3: $1.0382 – Hourly support July 26
SUP 4: $1.0288 – 200 day moving average
NZD/USD: Focus now shifts to initial layers of support. With initial support taken out the focus now shifts to initial layers of support in the $0.7952-92 region and then the July monthly lows beneath that. Daily tech studies are now heading lower from very overbought levels which should add weight to the move lower. Topside, above the August highs remains needed to kick start upward
momentum.
RES 4: $0.8317 – High April 13
RES 3: $0.8235 – High April 30
RES 2: $0.8166 – High Aug 8
RES 1: $0.8114 – High Aug 14
LATEST PRICE: 0.8059
SUP 1: $0.7992 – Low July 27
SUP 2: $0.7970 – 200 day moving average
SUP 3: $0.7952 – 100 day moving average
SUP 4: $0.7813 – Monthly low July 25
AUD/JPY: 200 day ma seen as pivotal support. The pair continues to chop around, supported by the rising 21 day moving average and capped by the Aug 9 highs. The 200 day MA remains pivotal with a break below shifting focus back to retests of July monthly lows. Topside, back above the Aug 9 highs is needed to keep the focus on higher levels and a retest of the Jpy84.53-81 region.
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: 82.69
SUP 1: Jpy81.98 – 21 day moving average
SUP 2: Jpy81.57 – Low Aug 1
SUP 3: Jpy81.47 – 200 day moving average
SUP 4: Jpy81.25 – Hourly support July 27
USD/KRW: Continues to hover above initial support. The lack of excitement continues for USD/KRW as it remains supported around the Krw1125 level with above the 200 day MA needed to ease the downside pressure. Oversold daily tech studies remain the main concern and the pair could be due for a bounce to work the tech studies back into neutral territory.
RES 4: Krw1165.2 – High June 18
RES 3: Krw1158.1 – High July 12
RES 2: Krw1153.9 – Ichimoku cloud base
RES 1: Krw1141.8 – 200 day moving average
LATEST PRICE: 1129.9
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: Continues to hint at a correction. USD/SGD trades around the middle of the recent Sgd1.2400-1.2538 range at present with back above Sgd1.2538 needed to shift the immediate focus from a retest of 2012 lows. Very oversold and correcting daily tech studies remain a concern and could place the move lower on hold until the tech studies are back at more neutral levels.
RES 4: Sgd1.2613 – 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: 1.2464
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