AUD/USD remains little changed from yesterday’s NY close. The 21-DMA is edging lower with a close above seen as relieving the bearish pressure and we will continue to look for a close above the $0.9343 June 26 high to see the immediate focus shift to $0.9630-65 region where the 55-DMA, 38.2% Fibonacci retracement and previous daily highs can be found.
R 4: $0.9604 – 21 day upper Bollinger band
R 3: $0.9343 – High June 26
R 2: $0.9277 – 21 day moving average
R 1: $0.9250 – High July 2
Latest price: 0.9200
S 1: $0.9089 – Low July 9
S 2: $0.9043 – 2013 low July 8
S 3: $0.8949 – 21 day lower Bollinger band
S 4: $0.8771 – Low Aug 25 2010
NZD/USD remains little changed from yesterday’s NY close as the pair continues to hesitate ahead of the $0.7897 level. We look for a close above this level to shift the immediate focus to the $0.8052 level and overall focus to the $0.8154 level. Layers of resistance remain in the $0.8154-0.8317 region. Daily tech studies are no longer oversold and are well placed should another leg lower develop.
R 4: $0.8202 – 100 day moving average
R 3: $0.8154 – High May 29
R 2: $0.8052 – High June 19
R 1: $0.7897 – High June 20
Latest price: 0.7885
S 1: $0.7769 – Low July 9
S 2: $0.7685 – 2013 low June 21
S 3: $0.7621 – Low June 8 2012
S 4: $0.7461 – 2012 low May 23
AUD/JPY: given the sharp rejection from yesterday’s marginal close above the 200-DMA (Jpy92.82), we will count that as a false break. Daily slow stochastic, RSI and momentum studies are correcting lower and a break back below the 21-DMA would confirm the shift in focus back to the Jpy88.82 support level. A close above the June 9 high is now needed to see focus return to the Jpy96.02 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: Jpy93.02 – High June 9
Latest price: 91.70
S 1: Jpy91.01 – 21 day moving average
S 2: Jpy90.18 – Low July 3
S 3: Jpy89.61 – Low June 25
S 4: Jpy88.82 – Low Dec 31 2012
USD/KRW has taken out the rising daily trend line off the May monthly lows and now looks set to test the key Krw1130.1 support. The Krw1130.1 support remains key to a shift lower in focus and a close below Krw1130.1 is needed to see the immediate focus shift back to tests of the Krw1108.4 support. Topside the pair needs to close back above the Krw1153.2 level to kick start topside momentum.
R 4: Krw1176.2 – High June 8 2012
R 3: Krw1166.0 – 2013 high June 24
R 2: Krw1162.0 – 21 day upper Bollinger band
R 1: Krw1153.2 – High July 5
Latest price: 1136.5
S 1: Krw1130.1 – Low July 2
S 2: Krw1125.6 – Low June 14
S 3: Krw1123.4 – 38.2% Fibonacci of 1054.5-1166.0 move
S 4: Krw1119.2 – Low June 10
USD/SGD has now put in two days of lower lows and highs following the spike to fresh 2013 highs on Monday. This is of some concern for the continuation higher and we continue to look for a break back below the Sgd1.2695 support to relieve the immediate bullish focus and hint at a deeper correction. Further stops are expected below the June 27 low and below this level would confirm a shift in focus back to the Sgd1.2377-07 region.
R 4: Sgd1.3000 – Psychological resistance
R 3: Sgd1.2970 – High 1 June 2012
R 2: Sgd1.2917 – 200 week moving average
R 1: Sgd1.2858 – 2013 high July 8
Latest price: 1.2711
S 1: Sgd1.2695 – Low July 3
S 2: Sgd1.2622 – Low June 27
S 3: Sgd1.2497 – 100 day moving average
S 4: Sgd1.2407 – Low June 7