AUD/USD: While 200-DMA Caps Focus Remains Bearish. The pair begins the new week where it ended on Friday, marginally above the initial support. The pair continued to pause ahead of this level after the sharp move lower and subsequent failures to bounce back above the 200-DMA last week. While the 200-DMA caps focus remains on the 2013 lows with a close above the 200-DMA needed to relieve the bearish focus and see the pair return focus to the layers of resistance in the $1.0580-25 region.
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: 1.0278
SUP 1: $1.0268 – Low Mar 12
SUP 2: $1.0242 – Ichimoku cloud base
SUP 3: $1.0205 – Low Mar 11
SUP 4: $1.0117 – 2013 Low Mar 4
NZD/USD: $0.8337-65 Support Region Remains Key. The cross continues to trade sideways within initial support and resistance levels with the $0.8337-65 support region remaining key. While the $0.8520 level caps a break below this region remains favoured with focus then turning to the 200-DMA and 2013 low below that. Topside the pair needs to close above the $0.8520 level to relieve the current bearish pressure and see the focus return to 2013 highs.
RES 4: $0.8840 – 2011 High Aug 1
RES 3: $0.8676 – 2013 High Apr 11
RES 2: $0.8595 – 21 day upper Bollinger band
RES 1: $0.8520 – Hourly resistance Aug 15
Latest price: 0.8399
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: $0.8252 – 200 day moving average
AUD/JPY: Rising Daily Trend Line Remains Key. The AUD/JPY recovered lost ground to end last week with overall focus remaining on retests of 2013 highs while the rising daily trend line continues to remain in play. A close below this level is needed to see overall focus return to the Jpy92.50 level. Initial support is now noted around the Jpy100.00 level once again with initial resistance now at Friday’s high. Overall a broad Jpy100-105 range remains favoured for now.
RES 4: Jpy105.6 – 21 day upper Bollinger band
RES 3: Jpy105.4 – 2013 high Apr 11
RES 2: Jpy103.8 – High Apr 15
RES 1: Jpy102.9 – High Apr 19
Latest price: 102.2
SUP 1: Jpy99.95 – Low Apr 18
SUP 2: Jpy98.94 – Low Apr 16
SUP 3: Jpy98.25 – Rising daily trend line
SUP 4: Jpy96.95 – Low Apr 2
USD/KRW: Krw1125.5 Resistance Level Closely Watched. USD/KRW still needs to close above the Krw1125.5 weekly high from last week to see focus return to a close above the 200-WMA and 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 Krw1101.7-1102.9 support region below. A close below this region then sees the pair targeting a deeper correction back to the Krw1077-1082 region.
RES 4: Krw1147.2 – High Apr 8
RES 3: Krw1137.2 – 200 week moving average
RES 2: Krw1133.6 – High Apr 12
RES 1: Krw1125.5 – High Apr 18
Latest price: 1120.3
SUP 1: Krw1110.9 – Low Apr 2
SUP 2: Krw1102.9 – 200 day moving average
SUP 3: Krw1101.7 – Low Mar 14
SUP 4: Krw1089.7 – 100 day moving average
USD/SGD: Oversold Daily Tech Studies Correcting. The cross bounced to end Friday’ NY session on the day’s high but needs to close above the 21-DMA to relieve the immediate bearish focus and above the key Sgd1.2427 level to see focus return to 2013 highs. 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. Daily tech studies are correcting from oversold levels and may prevent follow through on dips.
RES 4: Sgd1.2529 – 2013 High Mar 20
RES 3: Sgd1.2461 – Previous daily support now resistance
RES 2: Sgd1.2427 – High Apr 4
RES 1: Sgd1.2396 – 21 day moving average
Latest price: 1.2373
SUP 1: Sgd1.2337 – 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