The $0.9050 level remains initial resistance for the AUD/USD to start the new week, but with the 21-DMA at $0.9070 we will look for a close above the $0.9100 level as confirmation of break of the 21-DMA and a shift in overall focus back to the key $0.9315-43 region. While the $0.9100 level caps we will continue to look for dips back towards the layers of support noted in the $0.8850-0.8910 region with the 2013 lows noted at $0.8850.
R 4: $0.9187 – 55 day moving average
R 3: $0.9159 – Hourly resistance Aug 19
R 2: $0.9100 – Hourly resistance Aug 20
R 1: $0.9050 – High Aug 23
Latest price: $0.9021
S 1: $0.8971 – Low Aug 23
S 2: $0.8910 – Low Aug 6
S 3: $0.8872 – 21 day lower Bollinger band
S 4: $0.8850 – 2013 low Aug 5
NZD/USD: We continue to look for a close above the $0.7945 resistance level to shift overall focus higher with the 21-DMA also noted at this level today. While this level caps the current focus remains on spikes below the 21 day lower Bollinger band as the pair targets retests of the 2013 lows. Initial resistance is noted at $0.7821, with a close above needed to relieve the immediate bearish focus that is targeting $0.7733 to start the new week.
R 4: $0.8003 – Hourly resistance Aug 20
R 3: $0.7945 – Hourly resistance Aug 21
R 2: $0.7863 – High Aug 22
R 1: $0.7821 – Hourly resistance Aug 23
Latest price: 0.7794
S 1: $0.7780 – 21 day lower Bollinger band
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 last Monday’s low has continued for the AUD/NZD on Friday with the pair closing above the 21 day upper Bollinger band (NZ$1.1540) after having fallen just short of the falling daily trend line. The NZ$1.1480-85 support region remains key for the pair this week with the pair initially targeting the NZ$1.1624-40 region while it supports. A close back below the NZ$1.1480-85 region is needed to see focus turn lower once more.
R 4: NZ$1.1748 – High July 11
R 3: NZ$1.1640 – High July 22
R 2: NZ$1.1624 – 55 day moving average
R 1: NZ$1.1591 – Falling daily trend line
Latest price: NZ$1.1567
S 1: NZ$1.1483 – Hourly support Aug 23
S 2: NZ$1.1361 – Low Aug 21
S 3: NZ$1.1265 – Low Aug 7
S 4: NZ$1.1241 – 21 day lower Bollinger band
Layers of resistance remain in the Y90.29-91.07 region for AUD/JPY with a close above needed 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 (Y90.29) and the falling daily trend line off April monthly highs in the Y90.29-91.07 region, a break higher would be significant. Below Thursday’s low is needed to re-confirm the current bearish focus.
R 4: Y90.58 – Falling daily trend line off Apr high
R 3: Y90.29 – High July 30
R 2: Y90.13 – High Aug 19
R 1: Y89.41 – High Aug 23
Latest price: Y88.95
S 1: Y87.41 – Low Aug 22
S 2: Y86.83 – 21 day lower Bollinger band
S 3: Y86.43 – 2013 low Aug 7
S 4: Y85.27 – Low Nov 28 2012
USD/KRW: Following Thursday’s spike above the 21 day upper Bollinger band and Ichimoku cloud base that paused just ahead of the 55-DMA and key resistance noted in the Krw1128.0-1130.1 region dollar-won managed a bearish close on Friday.. 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.
R 4: Krw1130.1 – Daily support/resistance
R 3: Krw1128.0 – High July 18
R 2: Krw1123.5 – Ichimoku cloud base
R 1: Krw1120.1 – High Aug 23
Latest price: Krw1113.6
S 1: Krw1111.8 – Low Aug 16
S 2: Krw1108.3 – Low Aug 8
S 3: Krw1105.0 – Daily resistance/support
S 4: Krw1104.0 – 200 day moving average
USD/SGD closed below the previous initial support at Sgd1.2803 to end last week, relieving the previous bullish focus a little and risking a deeper correction after having made marginal fresh 2013 highs on Thursday. We will continue to look for a close below the Sgd1.2736 level to shift focus back to layers of support in the Sgd1.2550-74 region with 100-DMA (Sgd1.2574), Ichimoku cloud base and previous daily lows noted in this region.
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: Sgd1.2781
S 1: Sgd1.2736 – Low Aug 20
S 2: Sgd1.2705 – 21 day moving average
S 3: Sgd1.2695 – Low Aug 19
S 4: Sgd1.2574 – 100 day moving average