AUD/USD: The move lower continues for the pair with finding support at the Apr 23 low. Immediate focus remains on the $1.0171-1.0222 support region with the falling 21 day lower Bollinger band noted at $1.0171 and spikes below expected while yesterday’s high caps. The pair needs to close back above the $1.0284 level to relieve the current bearish pressure but the $1.0400 level remains key, and while it caps lower levels remain favoured.
R 4: $1.0397 – 200 day moving average
R 3: $1.0358 – 21 day moving average
R 2: $1.0329 – Previous hourly support now resistance
R 1: $1.0284 – High May 2
Latest price: 1.0245
S 1: $1.0222 – Low Apr 23
S 2: $1.0205 – Low Mar 11
S 3: $1.0171 – 21 day lower Bollinger band
S 4: $1.0117 – 2013 low Mar 4
NZD/USD: Although the cross remains little changed from yesterday’s NY close, the pair is starting to look a little heavy and now needs to close back above yesterday’s high or else risk a continuation lower that retests the $0.8337-74 support region. Below this region then sees the pair targeting the Mar monthly low at $0.8164. Daily tech studies have worked off their previously oversold condition and are well placed for another leg lower
R 4: $0.8643 – High Apr 12
R 3: $0.8615 – 21 day upper Bollinger band
R 2: $0.8583 – High Apr 30
R 1: $0.8512 – High May 2
Latest price: 0.8494
S 1: $0.8460 – Low May 2
S 2: $0.8374 – 100 day moving average
S 3: $0.8337 – Low Mar 25
S 4: $0.8292 – Previous daily resistance now support
AUD/JPY: The cross marginally dipped below the rising daily trend line off the Nov monthly lows before recovering a little to close back above. We will now look for a close below the Apr 16 support level as confirmation of a break in the daily trend line and a subsequent shift in overall focus back to the Jpy92.50 support from mid Jan. The pair continues to look heavy with above yesterday’s high needed to relieve the immediate bearish pressure.
R 4: Jpy103.8 – High Apr 15
R 3: Jpy102.9 – High Apr 22
R 2: Jpy101.9 – 21 day moving average
R 1: Jpy100.9 – High May 2
Latest price: 100.36
SUP 1: Jpy99.52 – Rising daily trend line
SUP 2: Jpy98.94 – Low Apr 16
SUP 3: Jpy96.95 – Low Apr 2
SUP 4: Jpy96.31 – 100 day moving average
USD/KRW: The pair continues to chop around the 200-DMA (Krw1101.3) with initial resistance now noted at the Apr 30 high. We will continue to look for a close back above the Apr 29 high to relieve the immediate bearish focus. Until this occurs we target an overall move back to the 1077-82 support region. Topside back above Apr 18 highs is needed to return focus to the 2013 high with the falling 21-DMA noted ahead of the Apr 18 high at Krw1120.0.
R 4: Krw1133.6 – High Apr 12
R 3: Krw1125.5 – High Apr 18
R 2: Krw1110.1 – High Apr 29
R 1: Krw1105.0 – High Apr 30
Latest price: 1102.3
S 1: Krw1094.1 – Low Mar 12
S 2: Krw1092.4 – 100 day moving average
S 3: Krw1089.9 – 61.8% retracement of 1054.5-1147.2 move
S 4: Krw1087.7 – Ichimoku cloud base
USD/SGD: Has bounced a little further since the brief dip to fresh 3 month lows to start the month. The 1.2391-10 region remains key topside with the falling daily channel top off the 2013 high noted at Sgd1.2410 today. While the Sgd1.2410 level caps we will continue to look for further spikes below the falling 21 day lower Bollinger band ($1.2317) and tests of the 1.2198-24 support region. Above the rising channel base shifts focus to the 2013 high.
R 4: Sgd1.2436 – High Apr 24
R 3: Sgd1.2410 – Falling daily channel top
R 2: Sgd1.2391 – High Apr 26
R 1: Sgd1.2376 – 21 day moving average
Latest price: 1.2351
S 1: Sgd1.2306 – Low May 1
S 2: Sgd1.2224 – Low Jan 10
S 3: Sgd1.2198 – 2013 low Jan 2
S 4: Sgd1.2169 – Low Dec 18 2012