AUD/USD: The pair paused at the June 5 2012 low to end last week and is currently trading a little higher in early Asian trading. Initial resistance is now seen at the $0.9800 level that previously supported on the hourly time frame, but we will look for a close back above the May 15 high to relieve the immediate bearish pressure that has the market focused on a test of the 2012 lows. Overall back above the May 10 high is needed to target bigger bounce.
R 4: $1.0096 – High May 10
R 3: $1.0025 – High May 13
R 2: $0.9918 – High May 15
R 1: $0.9800 – Previous hourly support now resistance
Latest price: 0.9745
SUP 1: $0.9712 – Low June 5 2012
SUP 2: $0.9584 – Low June 1 2012
SUP 3: $0.9488 – Low Oct 5 2011
SUP 4: $0.9397 – 2011 Low Oct 4 2011
NZD/USD: The cross closed last week below the 100-WMA ($0.8151) for the first time since June 2012 after pausing just ahead of the Nov 2012 monthly low. Initial resistance is now noted at Friday’s high and we will look for a close back above this level to relieve the immediate bearish pressure. We will now look for a close above the May 13 high to see overall focus shift back to the 2013 highs. Oversold daily techs are noted but not yet an issue.
R 4: $0.8356 – Previous daily support now resistance
R 3: $0.8317 – High May 13
R 2: $0.8287 – 200 day moving average
R 1: $0.8176 – High May 17
Latest price: 0.8090
S 1: $0.8056 – Low Nov 16 2012
S 2: $0.7917 – Low Sept 5 2012
S 3: $0.7813 – Low July 25 2012
S 4: $0.7740 – 200 week moving average
AUD/JPY: The pair continued to make headway below the rising daily trend line to end the week with initial focus remaining on a test of the Apr 16 lows and the Ichimoku cloud base noted just above this support. A close back above the May 15 high remains needed to see immediate focus return to the Apr 22 high, but while Jpy101.60 caps the overall focus remains on a move back to the
Jpy92.50-00 region.
R 4: Jpy103.8 – High Apr 15
R 3: Jpy102.9 – High Apr 22
R 2: Jpy102.3 – High May 3
R 1: Jpy101.6 – High May 15
Latest price: 100.15
S 1: Jpy99.14 – Ichimoku cloud base
S 2: Jpy98.94 – Low Apr 16
S 3: Jpy97.70 – 100 day moving average
S 4: Jpy96.95 – Low Apr 2
USD/KRW: USD edged its way towards the Apr 18 high to end the week with initial support now noted at the May 15 low. Overall while the 200-DMA continues to remain as support, the pair will target a retest of the 2013 high at Krw1147.2 from back in early April. The pair is likely to encounter solid resistance in the Krw1129.5-1134.0 region with the 21 day upper Bollinger, band, previous daily highs and 200-WMA all noted in this region.
R 4: Krw1147.2 – 2013 high Apr 8
R 3: Krw1134.0 – 200 week moving average
R 2: Krw1129.5 – 21 day upper Bollinger band
R 1: Krw1125.5 – High Apr 18
Latest price: 1122.5
S 1: Krw1112.5 – Low 15 May
S 2: Krw1105.0 – Previous daily resistance now support
S 3: Krw1099.9 – 200 day moving average
S 4: Krw1081.6 – Low Feb 28
USD/SGD: The pair is historically trading a long way above the rising 21 day upper Bollinger band and with the falling weekly channel top not far above at Sgd1.2633 we could see the pair slow its rapid ascent a little to start the new week. Initial support is noted at Friday’s low with a close below needed to relieve the immediate bullish pressure and we will now look for a close below the May 15 low to see overall focus shift lower once more.
R 4: Sgd1.2846 – High June 25 2012
R 3: Sgd1.2748 – High July 6 2012
R 2: Sgd1.2644 – High July 25 2012
R 1: Sgd1.2633 – Falling weekly channel top
Latest price: 1.2591
S 1: Sgd1.2507 – Low May 17
S 2: Sgd1.2440 – Low May 16
S 3: Sgd1.2421 – Low May 15
S 4: Sgd1.2359 – Previous daily resistance now support