AUD/USD continued its move higher that is targeting the $0.9315-43 resistance region that capped in late June and July. Initial support is noted on the hourly timeframe at $0.9151 to start the new week but we look for a close below $0.9086 to relieve the immediate bullish focus and hint at a pullback to the $0.8970 Aug 8 low. The $0.9315-43 region remains key with a close above needed to shift focus to the $0.9670 level.
R 4: $0.9343 – High June 26
R 3: $0.9315 – High July 24
R 2: $0.9283 – 55 day moving average
R 1: $0.9215 – High Aug 9
Latest price: 0.9194
S 1: $0.9151 – Hourly support Aug 9
S 2: $0.9122 – 21 day moving average
S 3: $0.9086 – Low Aug 9
S 4: $0.8970 – Low Aug 8
NZD/USD: The pattern of higher highs and lows continued for the pair to end the week with the pair currently targeting a test of the $0.8105 level that capped in late July. Initial support is now noted at $0.8012 on the hourly timeframe but we will look for a close below the $0.7984 low from Friday to relieve the immediate bullish focus. Overall a close back below the $0.7918-33 support region is needed to shift focus back to last week’s lows.
R 4: $0.8154 – High May 29
R 3: $0.8122 – 100 day moving average
R 2: $0.8105 – Monthly high July 25
R 1: $0.8064 – 38.2% Fibonacci retracement $0.8676-0.7685
Latest price: 0.8043
S 1: $0.7984 – Low Aug 9
S 2: $0.7950 – 21 day moving average
S 3: $0.7918 – Previous hourly res now sup
S 4: $0.7887 – Low Aug 7
AUD/NZD: continues to recover lost ground as focus remains on the key NZ$1.1490 resistance level with the 21-DMA noted just below. A close above this region is needed to end bearish aspirations and see the immediate focus shift back to the NZ$1.1640 resistance. Layers of resistance remain in the NZ$1.1694-1.1777 region including a falling daily trend line, 55-DMA, previous daily highs and 38.2% Fibonacci retracement of the NZ$1.2682-1.1193 move.
R 4: NZ$1.1541 – Previous daily sup now res
R 3: NZ$1.1490 – Hourly resistance Aug 5
R 2: NZ$1.1467 – 21 day moving average
R 1: NZ$1.1450 – High Aug 6
Latest price: 1.1426
S 1: NZ$1.1364 – Low Aug 9
S 2: NZ$1.1330 – Hourly support Aug 8
S 3: NZ$1.1265 – Low Aug 7
S 4: NZ$1.1193 – 2013 low Aug 1
AUD/JPY: Correcting oversold daily tech studies could be slowing the move lower for the pair with the pair having bounced from ahead of the 100-WMA. A close back above the Y89.04 July 31 high remains needed to relieve the bearish pressure and see layers of resistance in the Y90.15-93.79 region come back into focus. While Y89.04 continues to cap the immediate focus remains on a move lower targeting the falling daily channel base (Y82.80).
R 4: Y91.59 – 55 day moving average
R 3: Y90.29 – High July 30
R 2: Y89.97 – 21 day moving average
R 1: Y89.04 – High July 31
Latest price: 88.57
S 1: Y87.75 – Low Aug 9
S 2: Y86.43 – Low Aug 7
S 3: Y86.22 – 100 week moving average
S 4: Y85.27 – Low Nov 28 2012
USD/KRW: Wednesday’s bounce failed at the 21-DMA and layers of resistance remain in the Krw1117.8-1130.1 region. The correction lower from this region has seen the pair close marginally below the Krw1108.4 June 7 low as we approach layers of support including the 200-DMA. A close above the 21-DMA is needed to relieve the current bearish pressure while back above Krw1130.1 is needed to shift overall focus higher.
R 4: Krw1130.1 – Previous daily sup now res
R 3: Krw1128.0 – High July 18
R 2: Krw1121.8 – Falling daily channel top
R 1: Krw1117.8 – 21 day moving average
Latest price: 1115.8
S 1: Krw1105.0 – Alternating daily resistance/support
S 2: Krw1102.6 – 200 day moving average
S 3: Krw1097.1 – 61.8% Fibonacci retracement 1054.5-1166.0
S 4: Krw1091.2 – Falling daily channel base
USD/SGD: The rising daily trend line from the May monthly lows has been taken out with dollar-sing pausing on Friday ahead of layers of support in the Sgd1.2540-63 region. A close below the 100-DMA would confirm a deeper correction is underway targeting tests of the Sgd1.2407-23 region with the 200-DMA noted at Sgd1.2425. A close above the Sgd1.2699 level is needed to shift focus higher once more.
R 4: Sgd1.2768 – High Aug 1
R 3: Sgd1.2737 – High Aug 5
R 2: Sgd1.2699 – Previous daily sup now res
R 1: Sgd1.2646 – 21 day moving average
Latest price: 1.2580
S 1: Sgd1.2563 – 50% retracement of 1.2268-1.2858 move
S 2: Sgd1.2550 – Low June 19
S 3: Sgd1.2541 – 100 day moving average
S 4: Sgd1.2482 – Low June 13