AUD/USD: Oversold daily slow stochastic, RSI and momentum indicators could be supportive of a bigger bounce for the pair with focus now shifting to the $0.9210 high from July 30. Initial support is noted on the hourly timeframe at $0.8985 but we will look for a close back below Wednesday’s low to see focus shift lower and back to retests of the 2013 low. A close above Wednesday’s $0.9025 high increases the potential for a retest of the key $0.9300-43 region.
R 4: $0.9210 – High July 30
R 3: $0.9100 – Hourly resistance July 30
R 2: $0.9047 – Hourly resistance July 31
R 1: $0.9025 – High Aug 7
Latest price: 0.9001
S 1: $0.8985 – Hourly support Aug 7
S 2: $0.8918 – Low Aug 7
S 3: $0.8848 – 2013 Low Aug 2
S 4: $0.8771 – Monthly low Aug 25 2010
NZD/USD: The close back above the layers of resistance including the 21 and 55-DMA’s sees the overall focus return to retests of the $0.8105 level that capped the recovery off the 2013 low in July. Initial support is noted on the hourly time frame at the $0.7918 level that capped in late NY on Tuesday but we will look for a close back below yesterday’s $0.7887 low to signal a false break higher and see the 2013 lows targeted once more.
R 4: $0.8105 – Monthly high July 25
R 3: $0.8064 – 38.2% Fibonacci retracement $0.8676-0.7685
R 2: $0.8038 – High July 30
R 1: $0.8015 – High July 31
Latest price: 0.7957
SUP 1: $0.7918 – Previous hourly res now sup
SUP 2: $0.7887 – Low Aug 7
SUP 3: $0.7822 – Low Aug 6
SUP 4: $0.7757 – 21 day lower Bollinger band
AUD/NZD: The correction from ahead of NZ$1.1490 continues, with the break and subsequent capping at the NZ$1.1351 level seeing the focus return to retests of the 2013 low. The 21 day lower Bollinger band continues to head sharply lower and comes in just above the 2013 low today with spikes below expected to resume. A close back above NZ$1.1351 is needed to relieve the immediate bearish focus while back above the 21-DMA is needed to shift focus higher
R 4: NZ$1.1512 – 21 day moving average
R 3: NZ$1.1490 – Hourly resistance Aug 5
R 2: NZ$1.1351 – Previous daily sup now res
R 1: NZ$1.1300 – Hourly resistance Aug 7
Latest price: 1.1302
SUP 1: NZ$1.1224 – 21 day lower Bollinger band
SUP 2: NZ$1.1193 – 2013 Low Aug 1
SUP 3: NZ$1.1135 – Low Oct 29 2008
SUP 4: NZ$1.0936 – Low Oct 24 2008
AUD/JPY: The break to fresh 2013 and 8 month lows keeps the bearish pressure firmly on the pair as the pair continues to spike below the falling 21 day lower Bollinger band (Y86.72). Initial resistance is now noted at the previous 2013 low with a close above needed to relieve the immediate bearish focus that is initially targeting the Y85.25-30 region. The pair is approaching layers of support including key weekly moving averages.
R 4: Y90.29 – High July 30
R 3: Y89.04 – High July 31
R 2: Y88.56 – High Aug 6
R 1: Y87.38 – Previous 2013 low now res
Latest price: 86.86
S 1: Y86.20 – 100 week moving average
S 2: Y85.27 – Low Nov 28 2012
S 3: Y84.14 – 200 week moving average
S 4: Y82.95 – Falling daily channel base
USD/KRW: Wednesday’s dollar-won bounce failed at the 21-DMA and layers of resistance remain noted in the Krw1119.1-1130.1 region with the 200-WMA noted at Krw1128.8. While this region caps the immediate focus remains on a test of the Krw1108.4 June 7 low, with overall focus remaining on a continuation low that targets the falling daily channel base. A close back above Krw1130.1 would see immediate focus turn to retests of the Krw1143.3 level
R 4: Krw1128.0 – High July 18
R 3: Krw1124.4 – Falling daily channel top
R 2: Krw1122.9 – 100 day moving average
R 1: Krw1119.1 – 21 day moving average
Latest price: 1115.7
S 1: Krw1108.4 – Low June 7
S 2: Krw1102.5 – 200 day moving average
S 3: Krw1097.1 – 61.8% Fibonacci retracement 1054.5-1166.0
S 4: Krw1093.1 – Falling daily channel base
USD/SGD: Initial resistance remains at the Sgd1.2699 level with immediate focus on tests of the rising daily trend line with the 55-DMA (Sgd1.2647) noted just below. A close below is needed to see layers of support in the Sgd1.2537-69 region targeted. Topside the pair needs to close above Sgd1.2699 to relieve the immediate bearish pressure and see initial focus shift back to the Aug 1 high at Sgd1.2768. Correcting oversold daily tech studies are expected to weigh.
R 4: Sgd1.2858 – 2013 high July 8
R 3: Sgd1.2768 – High Aug 1
R 2: Sgd1.2737 – High Aug 5
R 1: Sgd1.2699 – Previous daily sup now res
Latest price: 1.2666
S 1: Sgd1.2656 – Rising daily trend line
S 2: Sgd1.2563 – 50% retracement of 1.2268-1.2858 move
S 3: Sgd1.2550 – Low June 19
S 4: Sgd1.2539 – 100 day moving average