AUD/JPY: Dips Towards Initial Support. The pair remains little changed from yesterday’s NY close after having dipped a little closer to the initial support during the Asian session yesterday. Overall focus remains on the 2013 low with a close back above the 200-DMA needed to see focus return to the Apr 11 high. The 21 day lower Bollinger band comes in around $1.0298 today with spikes below expected to continue while the 200-DMA caps.
RES 4: $1.0582 – High Apr 11
RES 3: $1.0478 – Previous daily support now resistance
RES 2: $1.0445 – Hourly resistance Apr 15
RES 1: $1.0399 – 200 day moving average
Latest price: 1.0300
SUP 1: $1.0268 – Low Mar 12
SUP 2: $1.0257 – Ichimoku cloud base
SUP 3: $1.0205 – Low Mar 11
SUP 4: $1.0117 – 2013 Low Mar 4
NZD/USD: Further Downside Favoured. The cross dipped below the rising daily trend line from Mar 14 lows overnight as it continues to work its way lower and towards the $0.8337-65 support region. While the $0.8520 level continues to cap retests of the $0.8337-65 support region remain favoured with a close below then seeing focus turn to retests of the 2013 low. A close above the $0.8520 level is needed to see focus return to the 2013 high.
RES 4: $0.8840 – 2011 High Aug 1
RES 3: $0.8676 – 2013 High Apr 11
RES 2: $0.8598 – 21 day upper Bollinger band
RES 1: $0.8520 – Hourly resistance Aug 15
Latest price: 0.8410
SUP 1: $0.8365 – Low Apr 4
SUP 2: $0.8337 – Low Mar 25
SUP 3: $0.8292 – Previous daily resistance now support
SUP 4: $0.8250 – 200 day moving average
AUD/JPY: Consolidating Below Initial Resistance. The AUD continues to consolidate below the initial resistance at Jpy102.1 with a close above needed to confirm focus on retests of the 2013 highs. While initial resistance caps there is an increased risk of another dip that sees the key rising daily trend line retested. A close below the rising daily trend line sees immediate focus turn to tests of the Apr 2 low and then the Jpy92.50 level overall.
RES 4: Jpy105.4 – 2013 high Apr 11
RES 3: Jpy103.8 – High Apr 15
RES 2: Jpy102.6 – Hourly resistance Apr 15
RES 1: Jpy102.1 – High Apr 17
Latest price: 101.2
SUP 1: Jpy98.94 – Low Apr 16
SUP 2: Jpy98.11 – Rising daily trend line
SUP 3: Jpy96.95 – Low Apr 2
SUP 4: Jpy94.82 – 100 day moving average
USD/KRW: Apr 18 High Now Initial Resistance. USD/KRW traded but failed to close above the Krw1124.8 resistance level and we will now look for a close above yesterday’s high to see focus return to the 2013 highs. While the Apr 18 high caps we will continue to look for retests of the Apr 2 support and then the key Krw1101.7-1103.2 support region below. A close below this region then sees the pair targeting a deeper correction back to the Krw1077-1082 region.
RES 4: Krw1153.5 – High July 25 2012
RES 3: Krw1147.2 – High Apr 8
RES 2: Krw1133.6 – High Apr 12
RES 1: Krw1125.5 – High Apr 18
Latest price: 1122.4
SUP 1: Krw1110.9 – Low Apr 2
SUP 2: Krw1103.0 – 200 day moving average
SUP 3: Krw1101.7 – Low Mar 14
SUP 4: Krw1089.3 – 100 day moving average
USD/SGD: Layers Of Resistance Continue To Cap. The cross managed to hold above the 200-DMA, 100-DMA and Sgd1.2309 support level yesterday but continued to remain capped ahead of layers of resistance including the falling daily channel top, 21-DMA and key Apr 4 high. While the Apr 4 highs cap a retest of the Sgd1.2309 support remains favoured with a close below then confirming overall focus on retests of the 2013 lows. Above Sgd1.2427 sees overall focus return to the 2013 highs.
RES 4: Sgd1.2556 – High Aug 28
RES 3: Sgd1.2529 – 2013 High Mar 20
RES 2: Sgd1.2461 – Previous daily support now resistance
RES 1: Sgd1.2427 – High Apr 4
Latest price: 1.2359
SUP 1: Sgd1.2330 – 21 day lower Bollinger band
SUP 2: Sgd1.2309 – Previous daily resistance now support
SUP 3: Sgd1.2223 – Low Jan 11
SUP 4: Sgd1.2198 – 2013 Low Jan 2
EasyForexNews Research Team