AUD/USD: Initial resistance remains at $0.8997 on the hourly timeframe with a close above needed to relieve the immediate bearish focus while back above the $0.9100 level is needed to shift overall focus back to the $0.9315-43 region. While initial resistance caps immediate focus remains on layers of support noted in the $0.8850-95 region including the 2013 low, falling weekly channel base, 21 day lower Bollinger band and last week’s low. Below $0.8850 targets $0.8771.
R 4: $0.9159 – Hourly resistance Aug 19
R 3: $0.9100 – Hourly resistance Aug 20
R 2: $0.9041 – 21 day moving average
R 1: $0.8997 – Hourly resistance Aug 27
Latest price: $0.8930
S 1: $0.8895 – Low Aug 28
S 2: $0.8864 – 21 day lower Bollinger band
S 3: $0.8855 – Falling weekly channel base
S 4: $0.8850 – 2013 low Aug 5
NZD/USD: dipped to fresh lows for the month on Friday before bouncing a little to start the new week. Initial resistance is noted at the $0.7796 level from Friday but we will continue to look for a close back above the Ichimoku cloud base to relieve the immediate bearish focus while a move back above the $0.7937 level that previously supported on Aug 8 and 13 is needed to shift focus higher once more. For now a test of the 2013 low remains favoured.
R 4: $0.7918 – 21 day moving average
R 3: $0.7887 – Daily support/resistance
R 2: $0.7870 – Ichimoku cloud base
R 1: $0.7796 – High Aug 30
Latest price: 0.7758
S 1: $0.7730 – Low Aug 30
S 2: $0.7698 – 21 day lower Bollinger band
S 3: $0.7685 – 2013 Low June 24
S 4: $0.7621 – Low June 8 2012
AUD/NZD paused ahead of the falling daily trend line to start the new week. Overall we will continue to look for a close above the NZ$1.1640 high from July 22 to confirm a break of the falling daily trend line and 55-DMA which then sees immediate focus return to the NZ$1.1748 level last seen in early/mid July.The NZ$1.1412-33 region remains key support to start the new week with a close below needed to reconfirm bearish focus.
R 4: NZ$1.1640 – High July 22
R 3: NZ$1.1591 – 55 day moving average
R 2: NZ$1.1572 – 21 day upper Bollinger band
R 1: NZ$1.1544 – Falling daily trend line
Latest price: NZ$1.1501
S 1: NZ$1.1433 – Low Aug 29
S 2: NZ$1.1412 – 21 day moving average
S 3: NZ$1.1361 – Low Aug 21
S 4: NZ$1.1265 – Low Aug 7
AUD/JPY remains confined to a falling channel on the daily time frame that is currently targeting the channel base at Y80.64 if the channel remains true. Before the pair can test the falling daily channel base it has to negotiate the 200-WMA and then the rinsing long term weekly channel base (Y81.28). The falling daily channel top comes in around Y89.81 and we will look for a close above the Aug 19 high to confirm a break.
R 4: Y90.13 – High Aug 19
R 3: Y89.41 – High Aug 23
R 2: Y88.50 – Hourly resistance Aug 26
R 1: Y88.35 – 21 day moving average
Latest price: Y87.93
S 1: Y87.27 – Low Aug 29
S 2: Y86.77 – 21 day lower Bollinger band
S 3: Y86.43 – 2013 low Aug 7
S 4: Y84.24 – 200 week moving average
USD/KRW continues to pause at the Aug 8 low which remains somewhat pivotal support with a close below needed to see overall focus shift lower to the Krw1081.7 May monthly low. Initial resistance remains in the Krw1121-22 region with a close above needed to relieve the immediate bearish focus. 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.
R 4: Krw1130.1 – Daily support/resistance
R 3: Krw1128.0 – High July 18
R 2: Krw1121.9 – 100 day moving average
R 1: Krw1121.0 – High Aug 23
Latest price: Krw1109.5
S 1: Krw1108.3 – Low Aug 8
S 2: Krw1105.0 – Daily resistance/support
S 3: Krw1104.7 – 200 day moving average
S 4: Krw1097.1 – 61.8% retracement of 1054.6-1166.0 move
USD/SGD: After having failed to take out layers of resistance in the Sgd1.2860-69 region including the major 200-WMA and 21 day upper Bollinger band (Sgd1.2868) last week, correcting overbought daily tech studies are weighing. The pair briefly dipped below the Aug 20 low before bouncing a little and as a result we will now look for a close below the 21-DMA to confirm a shift lower in focus that targets the layers of support in the Sgd1.2550-94 region
R 4: Sgd1.2899 – High June 5 2012
R 3: Sgd1.2869 – 200 week moving average
R 2: Sgd1.2860 – 2013 high Aug 22
R 1: Sgd1.2791 – High Aug 29
Latest price: Sgd1.2747
S 1: Sgd1.2733 – Low Aug 30
S 2: Sgd1.2723 – 21 day moving average
S 3: Sgd1.2694 – Low Aug 19
S 4: Sgd1.2594 – 100 day moving average