AUD/USD: The pair traded at the lowest level since Sept 2010 after dipping below the 2011 low by a couple of pips in early trading yesterday. The pair then found support ahead of the $0.9395 level on the dips that followed. We will continue to look for a close back above the June 6 high to relieve the immediate bearish focus that sees the pressure remain on the $0.9395 level with a close below seeing overall focus turn to the Aug 2010 monthly lows.
R 4: $0.9918 – High May 15
R 3: $0.9838 – High May 21
R 2: $0.9791 – High June 3
R 1: $0.9665 – High June 6
Latest price: 0.9435
S 1: $0.9395 – 2013 Low June 10
S 2: $0.9290 – Low Sept 13 2010
S 3: $0.9056 – Low Sept 2 2010
S 4: $0.8771 – Monthly low Aug 25 2010
NZD/USD: The cross edged a little close to the $0.7812 support from July 25 2012 before bouncing to the day’s high’s, but we will continue to look for a close back above the $0.8095 June 6 high to relieve the immediate bearish focus that is targeting a test of the 200-WMA. It is worth noting the pair has not closed below the 200-WMA since July 2010 and a close below would be seen as a significant bearish event.
R 4: $0.8211 – High May 21
R 3: $0.8154 – High May 29
R 2: $0.8095 – High June 6
R 1: $0.8082 – 21 day moving average
Latest price: 0.7890
S 1: $0.7812 – Low July 25 2012
S 2: $0.7765 – 200 week moving average
S 3: $0.7621 – Low June 8 2012
S 4: $0.7461 – 2012 low May 23
AUD/JPY: With very oversold daily slow stochastic, RSI and momentum indicators correcting a little AUD/JPY recovered a little lost ground yesterday following the pair’s dip below the 200-DMA top end last week. We will continue to look for a close back above the Jpy94.66 resistance level to relieve the immediate focus from further dips below the 200-DMA and potential for an Jpy87.55 test, and back to the Jpy97.93-98.48 region.
R 4: Jpy99.48 – High May 24
R 3: Jpy97.93 – High May 30
R 2: Jpy96.02 – Previous daily support now resistance
R 1: Jpy94.66 – High June 6
Latest price: 93.20
S 1: Jpy90.62 – Low June 7
S 2: Jpy89.35 – 61.8% retracement of 79.42-105.42 move
S 3: Jpy88.82 – Low Dec 31 2012
S 4: Jpy87.55 – Low Dec 21 2012
USD/KRW: Friday’s bounce from fresh 3 week lows was followed up with another bounce to start the week that paused at the 21 day upper Bollinger band, and we will continue to look for a close above the May 29 high to see the initial focus return to the 2013 high and overall focus back to the 2012 high at Krw1186.3. While the Krw1137.1 level caps we will continue to look for dips back to the 200-DMA.
R 4: Krw1153.5 – High July 25 2012
R 3: Krw1147.2 – 2013 high Apr 8
R 2: Krw1137.1 – Monthly high May 29
R 1: Krw1134.6 – 21 day upper Bollinger band
Latest price: 1130.1
S 1: Krw1119.2 – Low June 10
S 2: Krw1108.4 – Low June 7
S 3: Krw1105.0 – Previous daily resistance now support
S 4: Krw1099.1 – 200 day moving average
USD/SGD: The pair bounced back towards the Sgd1.2637 resistance level to start the week but we will continue to look for a close above this level to see focus return to the 2013 high and then levels above, specifically the 200-WMA at Sgd1.2950. Initial support is now noted at yesterday’s low and a close below is needed to reconfirm bearish focus and see the 200-DMA at Sgd1.2338 targeted.
R 4: Sgd1.2847 – High June 25 2012
R 3: Sgd1.2748 – High July 6 2012
R 2: Sgd1.2728 – High July 12-13 2012
R 1: Sgd1.2637 – High June 3
Latest price: 1.2580
S 1: Sgd1.2487 – Low June 10
S 2: Sgd1.2407 – Low June 7
S 3: Sgd1.2375 – Ichimoku cloud base
S 4: Sgd1.2359 – Previous daily resistance now support