AUD/USD: The pair has continued to distance itself from the 2013 low and has closed above the 21-DMA, albeit by 1 pip, for the first time since early April. We will continue to look for a close above the June 6 high to relieve the immediate bearish focus that has seen overall focus ratchet lower 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.
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: 0.9640
S 1: $0.9433 – Low June 13
S 2: $0.9328 – 2013 Low June 11
S 3: $0.9290 – Low Sept 13 2010
S 4: $0.9056 – Low Sept 2 2010
NZD/USD: The cross has closed above the 21-DMA for the first time since early May but still needs to deal with layers of resistance that lay in wait above. Immediate focus is now on the $0.8154-0.8211 region with a close above then seeing the 100 and 200-DMA’s and further major Fibonacci levels come back into consideration. Expect support to develop ahead of Thursday’s low to end the week.
R 4: $0.8286 – 200 day moving average
R 3: $0.8219 – 21 day upper Bollinger band
R 2: $0.8211 – High May 21
R 1: $0.8154 – High May 29
Latest price: 0.8095
S 1: $0.7901 – Low June 13
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: The pair has bounced sharply from fresh 2013 lows having taken out a key Fibonacci level and 21 day lower Bollinger band but having fallen just short of the Dec 31 2012 low. The pair needs to close back above the June 6 high to relieve the current bearish focus while back above the May 30 high is needed to shift overall 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: 92.20
S 1: Jpy90.10 – 21 day lower Bollinger band
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: We will continue to look for a close above the Krw1138.1 level to see 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 Krw1107.9. Overall, while the Krw1138.1 level caps the potential remains for a deeper pullback that potentially targets the Krw1077-1081 level but the pair will first have to take out the 200-DMA. Daily tech studies remain at relatively neutral levels
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: Krw1136.3 – 21 day upper Bollinger band
Latest price: 1126.5
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: Krw1099.0 – 200 day moving average
USD/SGD: The pair has broken free of its recent range with immediate focus remaining on a dip back towards the June 7 low. A close above the Sgd1.2637 level remains needed to see focus return to a retest of the 2013 high as daily tech studies slowly correct from oversold levels. Overall a test of the 200-DMA (Sgd1.2338) remains favoured while the Sgd1.2637 level caps.
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: 1.2488
S 1: Sgd1.2436 – 100 day moving average
S 2: Sgd1.2407 – Low June 7
S 3: Sgd1.2375 – Ichimoku cloud base
S 4: Sgd1.2359 – Previous daily resistance now support