AUD/USD has again failed ahead of the $0.9315-43 resistance region with the immediate focus firmly on the $0.9128 July 25 low. A close above the $0.9343 level remains needed to see focus shift higher to the $0.9665 level. For now the overall focus remains on retests of the 2013 low with the 21 day lower Bollinger band coming in just above. Flat Bollinger bands are currently suggesting further sideways trading within a $0.9045-0.9312 range.
R 4: $0.9665 – High June 6
R 3: $0.9609 – 38.2% of 1.0582-0.9008
R 2: $0.9343 – High June 26
R 1: $0.9315 – High July 24
Latest price: 0.9202
S 1: $0.9128 – Low July 25
S 2: $0.9087 – Low July 16
S 3: $0.9045 – 21 day lower Bollinger band
S 4: $0.9008 – 2013 Low July 12
NZD/USD has failed once again at the $0.8105 hurdle and has dipped back to the $0.8011 support. A close below the $0.8001-11 region would see the July 22 low come under pressure once more with a close below then seeing focus shift back to the 2013 lows. While the $0.7905 support remains in play potential exists for a continuation higher that tests layers of resistance in the $0.8154-0.8230 region.
R 4: $0.8180 – 50% of 0.8676-0.7685
R 3: $0.8157 – 100 day moving average
R 2: $0.8154 – High May 29
R 1: $0.8105 – High July 25 & 26
Latest price: 0.8030
S 1: $0.8011 – Previous daily res now sup
S 2: $0.8001 – Hourly support July 25
S 3: $0.7954 – Low July 25
S 4: $0.7905 – Low July 22
AUD/NZD – initial resistance has been confirmed at the NZ$1.1493 high from Friday with the bearish pressure expected to see last week’s fresh 4.5 year lows retested. A close above the NZ$1.1493 level is needed to relieve the bearish pressure while a close above the NZ$1.1750 resistance level is needed to shift focus higher and back to the NZ$1.1986-1.2100 region. While NZ$1.1750 caps overall potential remains for a move lower that tests the 2008 lows.
R 4: NZ$1.1750 – High July 11
R 3: NZ$1.1642 – 21 day moving average
R 2: NZ$1.1555 – Hourly resistance July 25
R 1: NZ$1.1493 – High July 26
Latest price: 1.1448
S 1: NZ$1.1395 – Low July 25
S 2: NZ$1.1272 – Low Nov 4 2008
S 3: NZ$1.0936 – Low Oct 24 2008
S 4: NZ$1.0893 – Low Oct 16 2008
AUD/JPY – after having failed to take out the Jpy93.02 resistance level during the past 2 weeks aussie-yen has further confirmed the overall bearish focus that is initially targeting the Jpy88.60-00 region with a close below both the 21-DMA and the Jpy91.37 level on Friday. Immediate focus remains on the key Jpy88.60-00 support region. A close back above yesterday’s high is needed to relieve the immediate bearish pressure.
R 4: Jpy92.70 – High July 24
R 3: Jpy91.96 – High July 25
R 2: Jpy91.37 – Previous daily sup now res
R 1: Jpy91.07 – High July 29
Latest price: 90.03
S 1: Jpy89.61 – Low June 25
S 2: Jpy88.98 – Low June 13
S 3: Jpy88.68 – Low Dec 27 2012
S 4: Jpy87.55 – Low Dec 21 2012
USD/KRW dipped below the 50% Fibonacci retracement level to trade at the lowest level since early June and continues to target the 200-DMA. Topside the pair needs to close back above the 100-DMA to relieve the immediate bearish pressure and close above the Krw1130.1 resistance level to shift focus higher. The 21-DMA is noted at Krw1127.0 today and increases the significance of the Krw1130.1 resistance. Oversold daily tech studies remain noted.
R 4: Krw1153.2 – High July 5
R 3: Krw1143.3 – High July 10
R 2: Krw1130.1 – Previous daily sup now res
R 1: Krw1122.3 – 100 day moving average
Latest price: 1112.5
S 1: Krw1108.4 – Low June 7
S 2: Krw1101.8 – 200 day moving average
S 3: Krw1097.1 – 61.8% Fibonacci retracement 1054.5-1166.0
S 4: Krw1081.6 – Low Feb 28
USD/SGD continues to remain supported by a rising daily trend line and capped by sellers ahead of the key Sgd1.2721 resistance level. While Sgd1.2721 caps a break of the rising daily trend line and then the key support at Sgd1.2550 remains favoured. Daily tech studies are working off their oversold condition and a break out is looking more and more likely before the end of the week. Above Sgd1.2721 remains needed to see focus shift higher.
R 4: Sgd1.2970 – Monthly high June 1 2012
R 3: Sgd1.2894 – 200 week moving average
R 2: Sgd1.2858 – 2013 high July 8
R 1: Sgd1.2721 – High July 11
Latest price: 1.2665
S 1: Sgd1.2607 – Rising daily trend line
S 2: Sgd1.2563 – 50% 1.2268-1.2858 move
S 3: Sgd1.2550 – Low June 19
S 4: Sgd1.2524 – 100 day moving average