AUD/USD found support ahead of the 21-DMA to start the week as it again works its way higher towards the $0.9303-43 region that is noted as key resistance. While this region caps further tests of the 2013 low remain favoured. A close above $0.9343 sees focus shift higher to the $0.9665 level. The 21 day upper Bollinger band remains relatively flat and comes in at $0.9319 today, adding further significance to the $0.9303-43 resistance region.
R 4: $0.9665 – High June 6
R 3: $0.9609 – 38.2% Retracement of 1.0582-0.9008 move
R 2: $0.9343 – High June 26
R 1: $0.9303 – High July 11
Latest price: 0.9250
S 1: $0.9181 – 21 day moving average
S 2: $0.9140 – Low July 18
S 3: $0.9087 – Low July 15
S 4: $0.9042 – 21 day lower Bollinger band
NZD/USD has paused ahead of Friday’s high following the bounce to start the new week with stops expected above. While the $0.7905 low from Monday supports, further oscillation around the rising 21 day upper Bollinger band ($0.7953) remains favoured with a test of the $0.8052-64 resistance region now looking more likely. A close back below the $0.7905 level is needed to see focus return to tests of the July 15 low.
R 4: $0.8154 – High May 29
R 3: $0.8064 – 38.2% Retracement of 0.8676-0.7685 move
R 2: $0.8052 – High June 19
R 1: $0.7988 – High July 19
Latest price: 0.7970
S 1: $0.7905 – Low July 22
SP 2: $0.7844 – Low July 17
S 3: $0.7733 – Low July 15
S 4: $0.7685 – 2013 low June 21
AUD/JPY continues to hesitate ahead of the July 9 high while remaining supported ahead of the Jpy91.48 level. Layers of resistance remain in the Jpy93.02-94.66 region with the 200-DMA at Jpy93.27 and the falling daily trend line from the 2013 high coming in around Jpy94.29 today. While this region caps the potential remains for another move lower that tests the Jpy88.80-00 region.
R 4: Jpy94.66 – High June 6
R 3: Jpy93.79 – High June 10
R 2: Jpy93.27 – 200 day moving average
R 1: Jpy93.02 – High July 9
Latest price: 92.08
S 1: Jpy91.48 – Low July 17
S 2: Jpy90.82 – Low July 16
S 3: Jpy89.89 – 21 day lower Bollinger band
S 4: Jpy89.61 – Low June 25
USD/KRW has headed back towards initial support to start the new week with a break lower remaining favoured. The Krw1130.1 level remains key for USD/KRW this week with a close above needed to relieve the current bearish focus while a close above the July 10 high is needed to shift overall focus higher once more. While the Krw1130.1 level caps we favour a test of the 200-DMA with a close below then seeing focus ratchet lower to the 1077.0-1081.7 region.
R 4: Krw1153.2 – High July 5
R 3: Krw1143.3 – High July 10
R 2: Krw1135.5 – 21 day moving average
R 1: Krw1130.1 – Previous daily support now resistance
Latest price: 1116.7
S 1: Krw1114.6 – Low July 16
S 2: Krw1110.2 – 50% Fibonacci retracement 1054.5-1166.0
S 3: Krw1108.4 – Low June 7
S 4: Krw1101.6 – 200 day moving average
USD/SGD has headed back towards the key Sgd1.2550-63 support region to start the new week following the recent failures ahead of the Sgd1.2721 resistance level. We continue to favour further spikes lower and a break below the Sgd1.2550 support until the pair can manage a close back above the Sgd1.2721 resistance level from July 11. A break below the Sgd1.2550 support sees overall focus shift back to the Sgd1.2386-07 region.
R 4: Sgd1.2901 – 200 week moving average
R 3: Sgd1.2858 – 2013 high July 8
R 2: Sgd1.2721 – High July 11
R 1: Sgd1.2686 – 21 day moving average
Latest price: 1.2602
S 1: Sgd1.2563 – 50% retracement of 1.2268-1.2858 move
S 2: Sgd1.2550 – Low June 19
S 3: Sgd1.2515 – 100 day moving average
S 4: Sgd1.2482 – Low June 13