AUD/USD: Fresh 6 Week Lows. The pair remains little changed from this week’s opening levels after dipping below the Ichimoku cloud base ($1.0259) and trading at fresh 6 week lows. Initial resistance is now noted at the Apr 19 highs but a close above the 200-DMA remains needed to see focus shift from retests of the 2013 lows to retests of the 2013 highs. The falling 21 day lower Bollinger band comes in around $1.0254 today with spikes below to continue while the Apr 19 highs cap.
RES 4: $1.0478 – Previous daily support now resistance
RES 3: $1.0445 – Hourly resistance Apr 15
RES 2: $1.0399 – 200 day moving average
RES 1: $1.0358 – High Apr 19
Latest price: 1.0271
SUP 1: $1.0238 – Low Mar 22
SUP 2: $1.0205 – Low Mar 11
SUP 3: $1.0117 – 2013 Low Mar 4
SUP 4: $1.0101 – Low July 12 2012
NZD/USD: Starting To Look A Little Heavy. 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 the $0.8337-65 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: $0.8594 – 21 day upper Bollinger band
RES 1: $0.8520 – Hourly resistance Aug 15
Latest price: 0.8417
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: $0.8255 – 200 day moving average
AUD/JPY: More Jpy100-105 Trading Expected For Now. The AUD/JPY continues to look like spending some time in the Jpy100-105 region with the pair trading marginally above last week’s high to start the new week before dipping to close below opening levels. A close below the rising daily trend line remains needed to see overall focus return to the Jpy92.50 level. Initial support remains around the Jpy100.00 level once with initial resistance now at yesterday’s high.
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 22
Latest price: 101.9
SUP 1: Jpy99.95 – Low Apr 18
SUP 2: Jpy98.94 – Low Apr 16
SUP 3: Jpy98.39 – Rising daily trend line
SUP 4: Jpy96.95 – Low Apr 2
USD/KRW: Krw1125.5 Resistance Level Closely Watched. USD/KRW continues to fail ahead of initial resistance with a close above the Krw1125.5 weekly high from last week needed to see focus return to a close above the 200-WMA and the 2013 highs. While the Apr 18 high caps we continue to look for retests of the Apr 2 support and then the key Krw1101.7-1102.7 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: Krw1136.4 – 200 week moving average
RES 2: Krw1133.6 – High Apr 12
RES 1: Krw1125.5 – High Apr 18
Latest price: 1120.2
SUP 1: Krw1110.9 – Low Apr 2
SUP 2: Krw1102.7 – 200 day moving average
SUP 3: Krw1101.7 – Low Mar 14
SUP 4: Krw1090.1 – 100 day moving average
USD/SGD: Apr 4 Highs Remains Key Resistance. The cross closed above the 21-DMA relieving bearish pressure but the pair still needs to close above the Apr 4 highs to see overall focus return to retests of the 2013 highs. With the falling 21 day upper Bollinger band coming in around the Sgd1.2437 level today and closes above rare it is unlikely the pair will manage to close much above the Apr 4 highs if it is able to trigger the stops noted above. Below Sgd1.2369 is needed re-ignite bearish pressure.
RES 4: Sgd1.2529 – 2013 High Mar 20
RES 3: Sgd1.2461 – Previous daily support now resistance
RES 2: Sgd1.2437 – 21 day upper Bollinger band
RES 1: Sgd1.2427 – High Apr 4
Latest price: 1.2402
SUP 1: Sgd1.2369 – Low Apr 22
SUP 2: Sgd1.2347 – 21 day lower Bollinger band
SUP 3: Sgd1.2309 – Previous daily resistance now support
SUP 4: Sgd1.2223 – Low Jan 11
EasyForexNews Research Team