AUD/USD popped above the 21 day upper Bollinger and the Ichimoku cloud top before pausing ahead of the key $0.9343 high from June 26. Daily tech studies are approaching overbought territory which could slow the move higher a little but a close above the $0.9343 level would see the immediate focus shift higher to the $0.9665 high from June 6. Back below yesterday’s low is needed to relieve the immediate bullish focus that is targeting a break higher .
R 4: $0.9512 – 38.2% Fibonacci retracement of $1.0582-0.8850
R 3: $0.9414 – 100 day moving average
R 2: $0.9394 – 21 week moving average
R 1: $0.9343 – High Jun 26
Latest price: $0.9323
S 1: $0.9277 – Low Sept 11
S 2: $0.9221 – Low Sept 10
S 3: $0.9166 – Low Sept 9
S 4: $0.9116 – Low Sept 6
NZD/USD continues to remain bid as the pair heads towards layers of resistance in the $0.8160-0.8211 region. Initial support is now noted at Wednesday’s low with a close below needed to relieve the immediate bullish focus whereas a close below the $0.7935 breakout level is needed to shift overall focus lower once more.
R 4: $0.8211 – High May 21
R 3: $0.8187 – 200 day moving average
R 2: $0.8180 – 50% Fibonacci retracement $0.8676-0.7685
R 1: $0.8160 – Monthly high Aug 19
Latest price: $0.8122
S 1: $0.8035 – Low Sept 11
S 2: $0.8000 – Hourly support Sept 10
S 3: $0.7960 – Low Sept 9
S 4: $0.7935 – Breakout level Sept 6
The retreat from within the Ichimoku cloud continues for the AUD/NZD with the pair now having dipped back below the 21-DMA. The move back below the 21-DMA now sees focus shift lower once more and back to the NZ$1.1185-1.1265 support region with the 2013 low noted at NZ$1.1185. Topside the pair needs to close above the Sept 6 high to relieve the current bearish pressure. Daily tech studies continue to correct from overbought levels.
R 4: NZ$1.1740 – 100 day moving average
R 3: NZ$1.1658 – High Sept 4
R 2: NZ$1.1633 – Hourly resistance Sept 4
R 1: NZ$1.1576 – High Sept 6
Latest price: NZ$1.1472
S 1: NZ$1.1442 – Low Sep Aug 28 & 29
S 2: NZ$1.1361 – Low Aug 21
S 3: NZ$1.1297 – 21 day lower Bollinger band
S 4: NZ$1.1265 – Low Aug 19
EUR/AUD: The $1.4445 resistance level remains somewhat pivotal with a close above needed to relieve the immediate bearish focus that is targeting a test of the $1.4165 July 17 low. Overall we will look for a close back above the 21 day moving average to shift focus back to the 2013 highs and the double daily top in the $1.5025-30 region. While the 21-DMA caps potential remains for an overall continuation lower that targets the $1.3810 June 14 low.
R 4: A$1.4626 – 21 day moving average
R 3: A$1.4570 – High Sept 4
R 2: A$1.4445 – Alternating daily support/resistance
R 1: A$1.4390 – High Sept 6
Latest price: A$1.4265
S 1: A$1.4239 – Low Sept 10
S 2: A$1.4183 – 21 day lower Bollinger band
S 3: A$1.4165 – Low July 17
S 4: A$1.3810 – Low June 14
AUD/JPY: An inside day for the aussie-yen yesterday as the pair consolidated at the upper end of Tuesday’s range. The 200-DMA is at Y94.31 and we will continue to look for a close above the June 6 high as confirmation of a break of the 200-DMA which then sees focus shift higher to tests of the Y98.00-99.00 region. A close back below the Y92.02 support is needed to relieve the immediate bullish pressure while below Y89.98 is needed to shift focus lower.
R 4: Y94.66 – High June 6
R 3: Y94.31 – 200 day moving average
R 2: Y93.79 – High June 10
R 1: Y93.43 – Ichimoku cloud top
Latest price: Y93.19
S 1: Y92.95 – Low Sept 11
S 2: Y92.02 – Breakout level Sept 10
S 3: Y90.64 – Low Sept 6
S 4: Y89.98 – Low Sept 4
USD/KRW: The Krw1081.6 support continues to stall the move lower with very oversold daily tech studies a concern. While the Krw1091.1 level continues to remain initial resistance the bearish pressure is expected to remain with a break low favoured. A break below initial support sees focus ratchet lower to retests of the 2013 low whereas a break of initial resistance opens up for a bounce back towards key layers of resistance in the Krw1105.1-1108.4 region.
R 4: Krw1119.8 – 100 day moving average
R 3: Krw1108.4 – Previous daily support now resistance
R 2: Krw1105.1 – 200 day moving average
R 1: Krw1091.1 – Previous daily support now resistance
Latest price: Krw1083.4
S 1: Krw1081.6 – Low Feb 28
S 2: Krw1077.0 – Low Feb 20
S 3: Krw1071.2 – Alternating daily support/resistance
S 4: Krw1054.5 – 2013 low Jan 11
USD/SGD: The close below the Sgd1.2717 Aug 3 low has seen focus shift back to the Sgd1.2564 Aug monthly low with a break below then targeting the 200-DMA. We now look for a close above the Sept 10 high to relieve the immediate bearish focus while back above the Sept 9 high is needed to shift overall focus higher once more. The Ichimoku cloud base comes in around Sgd1.2632 and it is worth noting that dollar-sing has not closed below the cloud base since May.
R 4: Sgd1.2860 – 2013 high Aug 22
R 3: Sgd1.2812 – High Sept 6
R 2: Sgd1.2758 – High Sept 9
R 1: Sgd1.2709 – High Sept 10
Latest price: Sgd1.2653
S 1: Sgd1.2632 – Ichimoku cloud base
S 2: Sgd1.2621 – 100 day moving average
S 3: Sgd1.2564 – Monthly low Aug 12
S 4: Sgd1.2484 – 200 day moving average