AUD/USD: $1.0358-99 Region Remains Key Resistance. The $1.0358-99 region remains key resistance for the AUD/USD this week with the 200-DMA ($1.0397), 100-DMA ($1.0399), 21-DMA ($1.0382) and previous daily highs all falling within. While this region caps overall focus remains on retests of the 2013 lows, whereas a break above is needed to see the 2013 highs targeted once more. The only concern about the current bearish focus is the oversold daily slow stochastic that is looking to correct.
RES 4: $1.0478 – Previous daily support now resistance
RES 3: $1.0445 – Hourly resistance Apr 15
RES 2: $1.0397 – 200 day moving average
RES 1: $1.0358 – High Apr 19
Latest price: 1.0280
SUP 1: $1.0222 – Low Mar 23
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: Bearish Close To End Last Week. The pair ended last week with a bearish close just above Friday’s lows which does not bode well for the pair considering the lack of follow through after Thursday’s spike higher. This week we will look for a close back above the Apr 26 high to see focus return to retests of the 2013 high. For now immediate focus remains on retests of the $0.8362-68 region with correcting O/S daily slow stochastic providing support on dips.
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: $0.8561 – High Apr 26
Latest price: 0.8482
SUP 1: $0.8470 – Low Apr 26
SUP 2: $0.8368 – 100 day moving average
SUP 3: $0.8337 – Low Mar 25
SUP 4: $0.8292 – Previous daily resistance now support
AUD/JPY: Closes Below 21-DMA. The rolling top on the hourly time frame was followed up with a close below the 21-DMA, shifting the immediate focus from the Apr 22 highs back to Jpy98.90-00 region. The rising daily trend line is now noted at the same level as the Apr 16 low with stops expected below. A close below the rising daily trend line that has been in place since early Nov is needed to see overall focus return to the Jpy92.50 level.
RES 4: Jpy105.9 – 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: 100.8
SUP 1: Jpy99.95 – Low Apr 18
SUP 2: Jpy98.95 – Rising daily trend line
SUP 3: Jpy96.95 – Low Apr 2
SUP 4: Jpy95.77 – 100 day moving average
USD/KRW: Apr 18 Resistance Key This Week. The cross dipped to fresh 4 week lows to end last week with the immediate focus remaining on a retest of the key Krw1101.7-1102.2 support region until the pair can manage a close back above the Apr 18 high. The daily slow stochastic study is approaching oversold levels which may provide additional support and prevent a break below the key support region for now. A close above Apr 18 resistance would see focus return to the 2013 high.
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: 1111.0
SUP 1: Krw1102.2 – 200 day moving average
SUP 2: Krw1101.7 – Low Mar 14
SUP 3: Krw1094.1 – Low Mar 12
SUP 4: Krw1091.3 – 100 day moving average
USD/SGD: Immediate Focus Turns To 200-DMA. The pair ended last week just above the week’s lows and below the Ichimoku cloud base. Immediate focus now turns to tests of the 200-DMA while the pair remains capped at Friday’s high, with the 21-DMA noted just ahead of this level around Sgd1.2388. The Sgd1.2309 level remains key support with a close below needed to see focus turn to the Sgd1.2198-24 region, with the 2013 lows noted at Sgd1.2198.
RES 4: Sgd1.2529 – 2013 High Mar 20
RES 3: Sgd1.2461 – Previous daily support now resistance
RES 2: Sgd1.2436 – High Apr 24
RES 1: Sgd1.2391 – High Apr 26
Latest price: 1.2364
SUP 1: Sgd1.2339 – 200 day moving average
SUP 2: Sgd1.2309 – Previous daily resistance now support
SUP 3: Sgd1.2224 – Low Jan 10
SUP 4: Sgd1.2198 – 2013 low Jan 2
EasyForexNews Research Team