AUD/USD: The pair again traded at the lowest level since Sept 2010 yesterday before bouncing to the day’s highs. We will continue to look for a close above the June 6 high to relieve the immediate bearish focus that has seen overall focus shift to a test of the Aug 2010 monthly low at $0.8771. Overall the pair needs to close back above the $0.9838 resistance level to see focus shift back to $1.0112. Daily tech studies remain in oversold territory.
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: 0.9450
S 1: $0.9328 – 2013 Low June 11
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 traded at the lowest level since June 2012 yesterday before bouncing off the 200-WMA. It is worth noting the pair has not closed below the 200-WMA since July 2010 and a close below would see the focus shift to retests of the 2012 low at $0.7461. We continue to look for a close above the June 6 high to relieve the current bearish pressure while above $0.8211 is needed to shift focus higher.
R 4: $0.8154 – High May 29
R 3: $0.8095 – High June 6
R 2: $0.8064 – 21 day moving average
R 1: $0.7920 – High June 10
Latest price: 0.7888
S 1: $0.7765 – 200 week moving average
S 2: $0.7621 – Low June 8 2012
S 3: $0.7461 – 2012 low May 23
S 4: $0.7394 – Low Nov 24 2011
AUD/JPY: The pair dipped a little closer towards the 61.8% Fibonacci retracement of the Jpy79.42-105.42 move overnight with the pair having closed below the 200-DMA for the first time since Oct 2012. The pair needs to close back above the June 6 high to relieve the immediate bearish focus while back above the May 30 high is needed to shift focus higher. Until this occurs the pair now targets a test of the Jpy85.27 level.
R 4: Jpy97.93 – High May 30
R 3: Jpy96.02 – Previous daily support now resistance
R 2: Jpy94.66 – High June 6
R 1: Jpy93.79 – High June 10
Latest price: 90.70
S 1: Jpy89.35 – 61.8% retracement of 79.42-105.42 move
S 2: Jpy88.82 – Low Dec 31 2012
S 3: Jpy87.55 – Low Dec 21 2012
S 4: Jpy85.27 – Low Nov 28 2012
USD/KRW: The cross traded at fresh two month highs yesterday before closing in NY just above the session lows. We will look for a close above the Krw1138.1 level to shift focus back to the 2013 high and away from initial retests of the June 7 low with the 100-DMA noted just below at Krw1106.7. Overall, while the Krw1138.1 level caps the potential remains for a deeper pullback that
potentially targets the Krw1077-1081 level.
R 4: Krw1153.5 – High July 25 2012
R 3: Krw1147.2 – 2013 high Apr 8
R 2: Krw1138.1 – High June 11
R 1: Krw1135.2 – 21 day upper Bollinger band
Latest price: 1131.0
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 cross has pulled back from ahead of the Sgd1.2637 resistance level and 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 Monday’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: 1.2545
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