AUD/USD: Aug 2 lows finally give way. The pivotal support noted at Aug 2 lows finally gave way and now sees initial focus on a retest of the 200 day moving average with back down to July monthly lows targeted overall. Overbought daily tech studies have unwound to more neutral levels and are no longer seen as an issue. Topside, above Aug 14 highs is needed to place the move lower in doubt.
RES 4: $1.0635 – High March 19
RES 3: $1.0578 – High Aug 10
RES 2: $1.0542 – High Aug 14
RES 1: $1.0456 – Hourly resistance Aug 17
LATEST PRICE: 1.0419
SUP 1: $1.0382 – Hourly support July 26
SUP 2: $1.0292 – 200 day moving average
SUP 3: $1.0200 – 100 day moving average
SUP 4: $1.0180 – Low July 25
NZD/USD: Hovering around 21 day moving average. The Kiwi continues to bounce around the 21 day moving average ($0.8068) although back below Aug 15 lows is needed to kick start downside momentum. A move lower to test 100 and 200 day moving averages remains favoured. Back above Aug 8 highs at a minimum is needed remove the focus from lower levels.
RES 4: $0.8317 – High April 13
RES 3: $0.8235 – High April 30
RES 2: $0.8166 – High Aug 8
RES 1: $0.8123 – High Aug 17
LATEST PRICE: 0.8073
SUP 1: $0.8038 – Low Aug 15
SUP 2: $0.7992 – Low July 27
SUP 3: $0.7974 – 200 day moving average
SUP 4: $0.7950 – 100 day moving average
AUD/JPY: Closely watching the 21 day MA. Friday’s sharp rejection from fresh 4 month highs could place the move higher to test the Jpy84.53-81 region in jeopardy, but for now a close below the 21 day moving average is needed to shift the immediate 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: Jpy83.50 – High Aug 16
LATEST PRICE: 82.90
SUP 1: Jpy82.18 – 21 day moving average
SUP 2: Jpy81.57 – Low Aug 1
SUP 3: Jpy81.53 – 200 day moving average
SUP 4: Jpy81.28 – Hourly support July 27
USD/KRW: Looking to Aug 3 highs for confirmation. The pair managed to pop above the 21 day moving average (Krw1135.1) but as confirmation of follow through a close above the Aug 3 highs is now needed. This then leaves the 200 day MA and layers of resistance in the Krw1141.9-1165.3 region to deal with for a topside move to gain traction. For now the Krw1122.1-1122.4 region
remains key support.
RES 4: Krw1158.1 – High July 12
RES 3: Krw1150.5 – Ichimoku cloud base
RES 2: Krw1141.9 – 200 day moving average
RES 1: Krw1137.7 – High Aug 3
LATEST PRICE: 1135.0
SUP 1: Krw1124.8 – Low Aug 9
SUP 2: Krw1122.1 – 100 week moving average
SUP 3: Krw1112.8 – 2012 Low Mar 2
SUP 4: Krw1092.5 – Low Sept 14
USD/SGD: Focus shifts to 100 day MA. The break and close above the 21 day moving average combined with the break of the Sgd1.2538 resistance level (albeit only just) sees initial focus shift to tests of the 100 and 200 day moving averages and then the Sgd1.2748 July 6 highs above. A close back below the 21 day MA is now needed to refocus lower.
RES 4: Sgd1.2748 – High July 6
RES 3: Sgd1.2691 – 200 day moving average
RES 2: Sgd1.2644 – High July 25
RES 1: Sgd1.2619 – 100 day moving average
LATEST PRICE: 1.2536
SUP 1: Sgd1.2489 – 21 day moving average
SUP 2: Sgd1.2435 – Low Aug 13
SUP 3: Sgd1.2400 – Low Aug 6
SUP 4: Sgd1.2349 – 2012 Low April 30
EasyForexNews Research Team