AUD/USD: The $0.9565 level confirmed it significance last week with the bounce from the 2013 low pausing at this level so far. We will continue to look for a close above the June 6 high to relieve the immediate bearish focus that sees overall focus on 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: 0.9565
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: Layers of resistance remain in the $0.8154-0.8317 region including previous daily highs, Fibonacci retracement levels and key daily moving averages. A close above this level is needed to see the pair end bearish hopes as focus shifts back to the 2013 high. Immediate focus is currently on the 200-WMA which supported the pair on last week’s dip, with overall focus on the 2012 low.
R 4: $0.8327 – 61.8% retracement of 0.8676-0.7762 move
R 3: $0.8285 – 200 day moving average
R 2: $0.8211 – High May 21
R 1: $0.8154 – High May 29
Latest price: 0.8045
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 managed its first weekly close below the 200-DMA since Oct and closed the week on a bearish note. Immediate focus remains on spikes below the sharply falling 21 day lower Bollinger band with the Jpy85.27 level our specific target. 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.
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: 90.05
S 1: Jpy89.27 – 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: Another failed spike above the 200-WMA (Krw1131.9) for USD/KRW last week with a weekly close above not seen since late 2011. Last week’s failed spike above the May monthly high sees the immediate focus on a retest of the Krw1108.4 support from June 7. 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.
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: Krw1136.6 – 21 day upper Bollinger band
Latest price: 1130.5
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: Immediate focus remains on a dip back towards the June 7 low for USD/SGD while overall focus sees the pair looking to pull back to the May monthly low around the Sgd1.2270 level. Topside a close back 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. The 200-DMA is also expected to provide some support on the way down and is seen at Sgd1.2340.
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: 1.2507
S 1: Sgd1.2482 – Low June 13
S 2: Sgd1.2438 – 100 day moving average
S 3: Sgd1.2407 – Low June 7
S 4: Sgd1.2359 – Previous daily resistance now support