AUD/USD: The pair is hovering just above the June 14 lows from 2012 after picking up where it left off last week and heading lower yesterday. Initial resistance is now noted around the $1.0025-30 region with a close back above needed to relieve the immediate bearish focus, but overall the pair needs to close back above the May 9 high to shift focus higher. While the May 9 high caps we will continue to target the 2012 low at $0.9584
R 4: $1.0253 – High May 9
R 3: $1.0155 – Previous hourly support now resistance
R 2: $1.0096 – High May 10
R 1: $1.0030 – Hourly resistance May 10
Latest price: 0.9955
S 1: $0.9922 – Low June 14 2012
S 2: $0.9872 – 200 week moving average
S 3: $0.9823 – Low June 8 2012
S 4: $0.9584 – 2012 Low June 1 2012
NZD/USD: The rate continued the move lower to start the new week, pausing just ahead of the rising daily trend line but managing to close below the 200-DMA for the first time since late Aug 2012. Initial resistance is now noted at yesterday’s high, but overall back above the May 9 high is needed to shift focus higher with the 21-DMA noted just below. For now the 2013 lows remain the
immediate focus and then the Nov 2012 monthly lows
R 4: $0.8477 – High May 9
R 3: $0.8418 – High May 10
R 2: $0.8356 – Previous daily support now resistance
R 1: $0.8317 – High May 13
Latest price: 0.8257
S 1: $0.8221 – Rising daily trend line
S 2: $0.8164 – 2013 low Mar 13 2012
S 3: $0.8153 – 100 week moving average
S 4: $0.8114 – Low Nov 21 2012
AUD/JPY: The cross continues to hesitate ahead of initial resistance with a break above the Apr 22 high needed to kick start topside momentum. The rising daily trend line off the Nov lows remains key support with immediate focus remaining on a test of the Jpy102.30-102.90 region while it holds. A close below the rising daily trend line remains needed to end topside hopes and see overall
focus return to the Jpy92.50 level.
R 4: Jpy105.4 – 2013 high Apr 11
R 3: Jpy103.8 – High Apr 15
R 2: Jpy102.9 – High Apr 22
R 1: Jpy102.3 – High May 3
Latest price: 101.35
S 1: Jpy100.6 – Rising daily trend line
S 2: Jpy99.90 – 21 day lower Bollinger band
S 3: Jpy98.94 – Low Apr 16
S 4: Jpy97.22 – 100 day moving average
USD/KRW: The pair consolidated last week’s gains by beginning the new week with fresh 3 week highs. The Krw1105.0 level that has been alternating support/resistance remains the initial support for now with a close below needed to relieve the immediate bullish focus that is targeting an overall continuation higher to the 2013 high. Daily tech studies continue to correct from oversold levels and are supportive of the continuation higher.
R 4: Krw1147.2 – 2013 high Apr 8
R 3: Krw1133.6 – High Apr 12
R 2: Krw1131.6 – 21 day upper Bollinger band
R 1: Krw1125.5 – High Apr 18
Latest price: 1116.5
S 1: Krw1105.0 – Previous daily resistance now support
S 2: Krw1100.1 – 200 day moving average
S 3: Krw1081.6 – Low Feb 28
S 4: Krw1077.0 – Low Feb 20
USD/SGD: USD continued its move higher to start the new week after breaking through the falling daily channel top on Friday. Layers of resistance are noted in the Sgd1.2432-36 region including the Ichimoku cloud top (Sgd1.2432) and the rising 21 day upper Bollinger band (Sgd1.2433). At present a close back below the 100-DMA is needed to remove the current overall focus from a retest of the 2013 highs and back to the double daily bottom at Sgd1.2268.
R 4: Sgd1.2556 – High Aug 28 2012
R 3: Sgd1.2529 – 2013 high Mar 20
R 2: Sgd1.2461 – Previous daily support now resistance
R 1: Sgd1.2436 – High Apr 24
Latest price: 1.2415
S 1: Sgd1.2365 – 100 day moving average
S 2: Sgd1.2330 – Low May 10
S 3: Sgd1.2283 – 21 day lower Bollinger band
S 4: Sgd1.2268 – Low May 9