AUD/USD: Following the repeated attempts to take out the $0.9665 resistance level, the pair has broken sharply lower to the lowest levels since Sept 2010. Above the $.9665 level is needed to relieve the immediate bearish focus and see focus shift from the $0.8771 Aug 2010 low and back to the $0.9840-50 region. Daily tech studies have worked off their previously oversold condition and remained well placed for another leg lower.
R 4: $0.9838 – High May 21
R 3: $0.9791 – High June 3
R 2: $0.9665 – High June 6
R 1: $0.9548 – High June 19
Latest price: 0.9295
S 1: $0.9056 – Low Sept 2 2010
S 2: $0.8771 – Low Aug 25 2010
S 3: $0.8634 – Low July 19 2010
S 4: $0.8319 – Low July 6 2010
NZD/USD: The pair has dipped towards the 2013 low following the repeated failures ahead of the May 29 resistance level. Layers of resistance remain in the $0.8154-0.8327 region including previous daily highs, Fibonacci retracement levels and key daily moving averages. While the pair remains capped ahead of the $0.8154-0.8327 region immediate focus remains on the 200-WMA with the overall focus firmly on the $0.7461 2012 low.
R 4: $0.8327 – 61.8% retracement of 0.8676-0.7762 move
R 3: $0.8282 – 200 day moving average
R 2: $0.8211 – High May 21
R 1: $0.8154 – High May 29
Latest price: 0.7890
S 1: $0.7860 – Low June 19
S 2: $0.7772 – 200 week moving average
S 3: $0.7621 – Low June 8 2012
S 4: $0.7461 – 2012 low May 23
AUD/JPY: Immediate bearish focus remains on spikes below the sharply falling 21 day lower Bollinger band with the Jpy85.27 level our overall downside target. The pair needs to close back above the June 6 high with the 21-DMA noted just below, to relieve the current bearish focus, while back above the May 30 high is needed to shift overall focus higher and back to 2013 high. Expect sell stops below the Jpy88.80 level
R 4: Jpy96.02 – Previous daily support now resistance
R 3: Jpy94.66 – High June 6
R 2: Jpy93.79 – High June 10
R 1: Jpy92.54 – High June 14
Latest price: 89.60
S 1: Jpy88.82 – Low Dec 31 2012
S 2: Jpy87.78 – 21 day lower Bollinger band
S 3: Jpy87.55 – Low Dec 21 2012
S 4: Jpy85.27 – Low Nov 28 2012
USD/KRW: The pair spiked higher overnight and now has the 2013 high in its sights. We will look for a close back below the 21-DMA to signal a false break higher for the pair yesterday. A close at fresh 2013 highs is now needed to see the immediate focus ratchet higher to the Krw1165.1 high from June 25 2012. The June 4 low remains the key support now with a close below needed to see focus shift lower once more
R 4: Krw1165.1 – High June 25 2012
R 3: Krw1158.1 – High July 12 2012
R 2: Krw1153.5 – High July 25 2012
R 1: Krw1147.2 – 2013 high Apr 8
Latest price: 1140.5
S 1: Krw1138.1 – Previous daily resistance now support
S 2: Krw1127.2 – 21 day moving average
S 3: Krw1119.2 – Low June 10
S 4: Krw1108.4 – Low June 7
USD/SGD: With USD having broken out of the recent range with an impressive bullish move, the immediate focus has turned to the 2013 high and spikes above the now rising 21 day upper Bollinger band. We will look for a close below yesterday’s low to signal a false break higher overnight. Daily slow stochastic, RSI and momentum indicators are heading sharply higher but have plenty of room to move before becoming overbought.
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: Sgd1.2723 – 21 day upper Bollinger band
Latest price: 1.2688
S 1: Sgd1.2637 – Previous daily resistance now support
S 2: Sgd1.2482 – Low June 13
S 3: Sgd1.2444 – 100 day moving average
S 4: Sgd1.2407 – Low June 7