AUD/USD: Aug 2 lows seen as pivotal. The correction from four month highs has paused ahead of the 21 day moving average and the somewhat pivotal $1.0436 Aug 2 lows as daily tech studies continue to unwind their overbought condition. The pair needs to break below Aug 2 lows to shift focus back to tests of 200 and 100 day moving averages and then July monthly lows.
RES 4: $1.0673 – 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: 1.0515
SUP 1: $1.0469 – 21 day moving average
SUP 2: $1.0436 – Low Aug 2
SUP 3: $1.0382 – Hourly support July 26
SUP 4: $1.0292 – 200 day moving average
NZD/USD: Correction from highs pauses for now. The sequence of lower daily highs and lows has been broken as the Kiwi bounces back above the 21 day moving average. Topside $0.8235 remains key with above needed to shift focus back to retests of the 2012 highs and away from a retest of the $0.7951-0.7973 support.
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: 0.8105
SUP 1: $0.8038 – Low Aug 15
SUP 2: $0.7992 – Low July 27
SUP 3: $0.7973 – 200 day moving average
SUP 4: $0.7951 – 100 day moving average
AUD/JPY: Breaks to fresh 4 month highs. Fresh 4 month highs overnight see the pair finally break free of the Jpy82.24-83.36 range trading and retain initial focus on retests of the Jpy84.53-81 region. Back below the 21 day moving average is needed to shift focus lower with the 200 day moving average then becoming the initial focal point.
RES 4: Jpy86.81 – High April 2
RES 3: Jpy84.81 – High April 23
RES 2: Jpy84.53 – High April 27
RES 1: Jpy83.98 – 21 day upper Bollinger band
LATEST PRICE: 83.45
SUP 1: Jpy82.04 – 21 day moving average
SUP 2: Jpy81.57 – Low Aug 1
SUP 3: Jpy81.51 – 200 day moving average
SUP 4: Jpy81.28 – Hourly support July 27
USD/KRW: 21 day moving average capping bounce. USD/KRW remains capped at the 21 day moving average for now with above the 200 day MA needed to confirm a shift in focus back towards the Krw1153.2-1165.3 region. Downside the pair needs to close below the Aug 9 lows to see the pair retain focus on a retest of 2012 lows. Daily lows continue to correct from oversold and have room to move.
RES 4: Krw1158.1 – High July 12
RES 3: Krw1153.2 – Ichimoku cloud base
RES 2: Krw1141.9 – 200 day moving average
RES 1: Krw1135.3 – 21 day moving average
LATEST PRICE: 1134.3
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: Pivotal resistance caps the correction. The upper limit of the Sgd1.2514-38 region capped the correction off the double daily bottom around Sgd1.2400 as daily tech studies continue to correct from oversold levels. Back below yesterdays lows breaks the current sequence of rising highs and lows and sees the 2012 lows remain firmly in focus until the pair can break above Sgd1.2438.
RES 4: Sgd1.2683 – 200 day moving average
RES 3: Sgd1.2644 – High July 25
RES 2: Sgd1.2611 – 100 day moving average
RES 1: Sgd1.2538 – Hourly resistance July 27
LATEST PRICE: 1.2490
SUP 1: Sgd1.2435 – Low Aug 13
SUP 2: Sgd1.2400 – Low Aug 6
SUP 3: Sgd1.2349 – 2012 Low April 30
SUP 4: Sgd1.2283 – Monthly low Sept 2011
EasyForexNews Research Team