AUD/USD consolidated last week’s move lower by trading around the lower end of last week’s range to start the new week, with the bounce from fresh 2013 lows stalling ahead of the $0.9312 resistance level. We continue to look for a close back above the $0.9312 level to relieve the immediate bearish focus while a close back above the $0.9920 level is needed to see focus turn to higher levels and away from our current $0.8771 target.
R 4: $0.9665 – High June 6
R 3: $0.9548 – High June 19
R 2: $0.9512 – 21 day moving average
R 1: $0.9312 – High June 20
Latest price: 0.9254
S 1: $0.9151 – 2013 low June 24 2013
S 2: $0.9056 – Low Sept 2 2010
S 3: $0.8771 – Low Aug 25 2010
S 4: $0.8634 – Low July 19 2010
NZD/USD managed a brief spike back above the 200-WMA to start the new week after having dipped to fresh 2013 lows once again. We will continue to look for a close back above the $0.7897 June 20 high to relieve the immediate focus that sees the pair targeting a test of the $0.7373-0.7461 region from 2011-12. Overall the pair needs to close above the $0.8154 resistance level to hint at a shift higher in focus.
R 4: $0.8154 – High May 29
R 3: $0.7966 – 21 day moving average
R 2: $0.7897 – High June 20
R 1: $0.7775 – 200 week moving average
Latest price: 0.7755
S 1: $0.7685 – 2013 low June 21
S 2: $0.7621 – Low June 8 2012
S 3: $0.7461 – 2012 low May 23
S 4: $0.7373 – Monthly low Nov 25 2011
The Jpy88.82-92.54 range will be key for the AUD/JPY this week. Stops noted below Jpy88.82 and a break below would help the pair towards our current target at Jpy85.27. Topside the pair needs to close back above the June 14 Jpy92.54 high, with the 200-DMA noted just below (Jpy92.20), to relieve the immediate bearish pressure. Overall a close back above the Jpy97.00 level is needed to shift focus back to 2013 highs.
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: 90.37
SUP 1: Jpy88.82 – Low Dec 31 2012
SUP 2: Jpy87.55 – Low Dec 21 2012
SUP 3: Jpy87.07 – 21 day lower Bollinger band
SUP 4: Jpy85.27 – Low Nov 28 2012
USD/KRW managed fresh 2013 and 12 month highs to start the new week as the pair continues to work its way closer to our current topside targets at the 2012 and then the 2011 high above. The Krw1147.2 previous 2013 high remains our initial support with the pair needing to close back below this breakout level to relieve the immediate bullish focus with the 2012 high less than 2% away.
R 4: Krw1207.8 – 2011 high Oct 4
R 3: Krw1186.7 – 2012 high June 4
R 2: Krw1176.2 – High June 8 2012
R 1: Krw1166.0 – 2013 high June 24
Latest price: 1161.2
S 1: Krw1147.2 – Previous daily resistance now support
S 2: Krw1138.1 – Previous daily resistance now support
S 3: Krw1131.9 – 21 day moving average
S 4: Krw1119.2 – Low June 10
USD/SGD continues to work its way towards our current target in the Sgd1.2970-00 region with fresh 2013 and 12 month highs to start the new week. Initial support is now noted at the Sgd1.2711 level with a close below needed to relieve the immediate bullish focus. Overall a close back below the Sgd1.2482 level is needed to shift focus back to the May monthly low and then the 2013 lows beneath.
R 4: Sgd1.2970 – High June 1 2012
R 3: Sgd1.2933 – 200 week moving average
R 2: Sgd1.2847 – High June 25 2012
R 1: Sgd1.2814 – 2013 high June 24
Latest price: 1.2758
S 1: Sgd1.2711 – Low June 21
S 2: Sgd1.2637 – Previous daily resistance now support
S 3: Sgd1.2482 – Low June 13
S 4: Sgd1.2456 – 100 day moving average