AUD/USD: The move lower in the pair paused ahead of the Aug 6 lows yesterday before recovering a little lost ground, only to remain capped ahead of the $0.9050 level as it did for most of Wednesday also. While yesterday’s high caps, immediate pressure remains on retests of the 2013 low. Overall a close back above the $0.9100 resistance level is needed to see focus shift higher to retests of the $0.9315-43 region with the 21-DMA noted at $0.9081.
R 4: $0.9196 – 55 day moving average
R 3: $0.9159 – Hourly resistance Aug 19
R 2: $0.9100 – Hourly resistance Aug 20
R 1: $0.9041 – High Aug 22
Latest price: $0.9005
S 1: $0.8910 – Low Aug 6
S 2: $0.8870 – 21 day lower Bollinger band
S 3: $0.8850 – 2013 low Aug 5
S 4: $0.8771 – Low Aug 25 2010
Lower lows and highs continued for the NZD/USD yesterday as the pair continues to head towards the $0.7685-0.7733 support region. Initial resistance is noted at the $0.7863 level that capped numerous attempts higher on Thursday but we will look for a close back above the $0.7945 level needed to shift focus higher once more. The 21 day lower Bollinger band ($0.7803) is heading lower once more with tests and spikes below favoured.
R 4: $0.8050 – Hourly support/resistance
R 3: $0.8003 – Hourly resistance Aug 20
R 2: $0.7945 – Hourly resistance Aug 21
R 1: $0.7863 – Hourly resistance Aug 22
Latest price: $0.7823
S 1: $0.7807 – Low Aug 22
S 2: $0.7733 – Low July 15
S 3: $0.7685 – 2013 Low June 24
S 4: $0.7621 – Low June 8 2012
The recovery from Monday’s low has continued with the AUD/NZD bounce taking out the NZ$1.1490 level with immediate focus now shifting to the NZ$1.1600-40 region with the 55-DMA noted at NZ$1.1632. A break above this region would then see the key NZ$1.1748 resistance level targeted. Yesterday’s move higher also confirmed the break and close above the 21-DMA, the first seen since late July with the 21-DMA now having turned higher as a result.
R 4: NZ$1.1748 – High July 11
R 3: NZ$1.1632 – 55 day moving average
R 2: NZ$1.1600 – Falling daily trend line
R 1: NZ$1.1545 – High Aug 22
Latest price: NZ$1.1502
S 1: NZ$1.1489 – Hourly support Aug 22
S 2: NZ$1.1361 – Low Aug 21
S 3: NZ$1.1265 – Low Aug 7
S 4: NZ$1.1254 – 21 day lower Bollinger band
The bullish outside day for AUD/JPY paused ahead of the Y89.20 resistance level on Thursday but needs to take out the layers of resistance in the Y90.29-91.07 region to shift overall focus away from fresh 2013 lows and back to the Y92.70-94.90 resistance region. With previous daily highs, the 55-DMA (Y90.36) and the falling daily trend line off April monthly highs in the Y90.29-91.07 region a break higher would be significant.
R 4: Y90.73 – Falling daily trend line off Apr high
R 3: Y90.29 – High July 30
R 2: Y90.13 – High Aug 19
R 1: Y89.20 – Hourly resistance Aug 20
Latest price: Y88.97
S 1: Y87.64 – Low Aug 20
S 2: Y86.55 – 21 day lower Bollinger band
S 3: Y86.43 – 2013 low Aug 7
S 4: Y85.27 – Low Nov 28 2012
Thursday’s move higher in USD/KRW paused ahead of the 55-DMA and key resistance noted in the Krw1128.0-1130.1 region. A close above the Krw1130.1 level remains needed to end bearish hopes and see the overall focus shift higher to tests of the 2013 high, with immediate focus turning to a retest of the Krw1143.3 high from July 10. Layers of support are developing in the Krw1105-1117 region and are supportive of a break higher.
R 4: Krw1143.3 – High July 10
R 3: Krw1130.1 – Daily support/resistance
R 2: Krw1128.0 – High July 18
R 1: Krw1127.6 – 55 day moving average
Latest price: Krw1119.8
S 1: Krw1116.6 – 21 day moving average
S 2: Krw1111.8 – Low Aug 16
S 3: Krw1108.3 – Low Aug 8
S 4: Krw1105.0 – Daily resistance/support
USD/SGD bounced from the double daily bottom in the Sgd1.2736-38 region and has made fresh 2013 highs in the process. Initial support is noted at yesterday’s lows with a close below now needed to relieve the immediate bullish focus. We will now look for a close below the Sgd1.2736 level to shift focus back to layers of support in the Sgd1.2550-65 region. Hold off chasing above the 21 day upper Bollinger and look for dips below to buy.
R 4: Sgd1.2970 – High June 1 2012
R 3: Sgd1.2899 – High June 5 2012
R 2: Sgd1.2876 – 200 week moving average
R 1: Sgd1.2860 – 2013 high Aug 22
Latest price: Sgd1.2813
S 1: Sgd1.2803 – Low Aug 22
S 2: Sgd1.2736 – Low Aug 20
S 3: Sgd1.2697 – 21 day moving average
S 4: Sgd1.2695 – Low Aug 19