AUD/USD confirmed $0.9343 level its significance with having failed on further attempts at this level before closing in NY little changed from yesterday’s close, but still remaining heavy. The current bearish bias remains, with a close above $0.9343 high needed to see the immediate focus shift to a retest of the $0.9550 level. Daily tech studies remain oversold land would be supportive of a correction but while $0.9343 caps the pair heads lower.
R 4: $0.9665 – High June 6
R 3: $0.9548 – High June 19
R 2: $0.9461 – 21 day moving average
R 1: $0.9343 – High June 26
Latest price: 0.9275
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 yet another attempt higher lacked followed through yesterday with pair closing little changed from the previous NY close. A close above the June 20 high remains needed to relieve the immediate bearish focus while back above $0.8154 is needed to shift overall focus back to the 2013 highs. For now pressure is expected to return to the 2013 low with the $0.7373-0.7461 region currently the overall target.
R 4: $0.8154 – High May 29
R 3: $0.7936 – 21 day moving average
R 2: $0.7897 – High June 20
R 1: $0.7858 – High June 26
Latest price: 0.7794
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
AUD/JPY is making a move back towards the June 14 high with the 200-DMA and 21-DMA both coming in just below this level, after having spent the past few weeks supported ahead of the Dec 31 2012 low. Topside the pair needs to close back above the June 14 Jpy92.54 high, 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: 91.20
S 1: Jpy89.61 – Low June 25
S 2: Jpy88.82 – Low Dec 31 2012
S 3: Jpy87.55 – Low Dec 21 2012
S 4: Jpy87.16 – 21 day lower Bollinger band
USD/KRW is now looking like testing the Krw1138.1 support level after having broken and closed back below initial support yesterday. We will look for a close back above yesterday’s high to signal a false break lower and return focus to the 2013 high. With the 21-DMA noted just below the initial support, we will look for a close below to add weight to the bearish case that targets a correction back to the Krw1100-1108 region.
R 4: Krw1186.7 – 2012 high June 4
R 3: Krw1176.2 – High June 8 2012
R 2: Krw1166.0 – 2013 high June 24
R 1: Krw1152.6 – High June 26
Latest price: 1145.3
S 1: Krw1138.1 – Previous daily res now sup
S 2: Krw1135.1 – 21 day moving average
S 3: Krw1125.6 – Low June 14
S 4: Krw1119.2 – Low June 10
USD/SGD briefly dipped below the previous initial support at Sgd1.2637, but the failure to close below still leaves us with a little hope of further bounce back above the 21 day upper Bollinger band. A close below Sgd1.2628 is now needed to see the immediate focus shift lower to retests of the Sgd1.2482 level with the 100-DMA noted just below at Sgd1.2466. For now a glimmer of hope remains for our Sgd1.2970-00 target.
R 4: Sgd1.2933 – 200 week moving average
R 3: Sgd1.2847 – High June 25 2012
R 2: Sgd1.2814 – 2013 high June 24
R 1: Sgd1.2790 – 21 day upper Bollinger band
Latest price: 1.2667
S 1: Sgd1.2628 – Low June 27
S 2: Sgd1.2482 – Low June 13
S 3: Sgd1.2466 – 100 day moving average
S 4: Sgd1.2407 – Low June 7