AUD/USD: The move lower in the pair paused at the 200-WMA to the pip overnight with the immediate pressure to remain on lower levels until the pair can manage a close back above $1.0025. Back above the $1.0096 resistance level is now needed to hint at a deeper bounce back towards $1.0253 with a close above this level needed to end bearish hopes and see focus return to 2013 highs. The AUD/USD last closed below the 200-WMA in Aug 2010.
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: $1.0025 – High May 13
Latest price: 0.9890
S 1: $0.9871 – 200 week moving average
S 2: $0.9823 – Low June 8 2012
S 3: $0.9584 – 2012 Low June 1 2012
S 4: $0.9397 – 2011 Low Oct 4 2011
NZD/USD: The cross continues to head lower, closing below the rising daily trend line and making headway below the 200-DMA ($0.8287). Initial resistance remains at the $0.8317 level with a close above needed to ease the current bearish pressure, but overall back above the May 9 high is needed to shift focus higher. For now the 2013 lows remain the immediate focus and then the Nov 2012 monthly lows below.
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: 0.8200
S 1: $0.8164 – 2013 low Mar 13 2012
S 2: $0.8153 – 100 week moving average
S 3: $0.8114 – Low Nov 21 2012
S 4: $0.8056 – Low Nov 16 2012
AUD/JPY: After pulling back from ahead of initial resistance the rising daily trend line confirmed its significance with the pair again bouncing from this support. A close below the rising daily trend line remains needed to end topside hopes and see initial focus turn to retests of the Jpy98.94 Apr 16 low and overall focus return to the Jpy92.50 level. While the rising daily trend line supports we will look for further spikes to the Jpy102.3-102.9 region.
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: 101.17
S 1: Jpy100.7 – Rising daily trend line
S 2: Jpy100.1 – 21 day lower Bollinger band
S 3: Jpy98.94 – Low Apr 16
S 4: Jpy97.35 – 100 day moving average
USD/KRW: After dipping briefly below the 21-DMA (Krw1107.8) yesterday USD bounced sharply to end the NY session just below the days highs and the weekly high from May 13. We will continue to look to the Krw1105 level as initial support with a close below needed to ease the current bullish focus while a close back below the 200-DMA is needed to shift focus lower once more and away from our current target which is the 2013 high.
R 4: Krw1133.6 – High Apr 12
R 3: Krw1129.9 – 21 day upper Bollinger band
R 2: Krw1125.5 – High Apr 18
R 1: Krw1117.0 – High May 13
Latest price: 1114.5
S 1: Krw1105.0 – Previous daily resistance now support
S 2: Krw1100.0 – 200 day moving average
S 3: Krw1081.6 – Low Feb 28
S 4: Krw1077.0 – Low Feb 20
USD/SGD: The pair paused right on the Apr 24 high overnight as it continues its march higher with the 2013 high in its sights. The close in NY adds support to the bullish case and we now look for a close below the Sgd1.2359 support level that was previously noted as resistance to see focus return to the double daily bottom around the Sgd1.2268 level as this would confirm a break of both
the 21 and 100 day moving averages.
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: 1.2431
S 1: Sgd1.2359 – Previous daily resistance now support
S 2: Sgd1.2330 – Low May 10
S 3: Sgd1.2280 – 21 day lower Bollinger band
S 4: Sgd1.2268 – Low May 9