AUD/USD followed up Wednesday’s close below the 21-DMA with a continuation lower Thursday that found support at the $0.9253 level. Bears continue to target the $0.9121-0.9207 region where the rising daily channel base and key moving averages are located. Bulls need to see a close above the 21-DMA to ease the current bearish pressure and above $0.9395 to see focus shift back to the 2014 highs.
RES 4: $0.9395 – Hourly resistance Apr 15
RES 3: $0.9377 – High Apr 22
RES 2: $0.9319 – 21-DMA
RES 1: $0.9301 – Hourly resistance Apr 24
LPRICE: $0.9270
SUP 1: $0.9253 – Low Apr 24
SUP 2: $0.9207 – Low Apr 3
SUP 3: $0.9190 – Rising daily channel base
SUP 4: $0.9153 – 200-DMA
NZD/USD managed a brief spike above the 21-DMA on Thursday before resuming the move lower and finding support at the $0.8546 level. Bears continue to initially target the $0.8441-0.8504 region where the 55-DMA and Fibonacci support are located while the $0.8627-48 region caps. Bulls continue to look for a close above $0.8648 to confirm a break of the 21-DMA and see overall focus return to the 2014 high.
RES 4: $0.8722 – 21 day upper Bollinger band
RES 3: $0.8694 – High Apr 15
RES 2: $0.8648 – High Apr 17
LRES 1: $0.8620
PRICE: $0.8574 @2000GMT
SUP 1: $0.8546 – Low Apr 24
SUP 2: $0.8522 – 21 day lower Bollinger band
SUP 3: $0.8504 – Low Mar 20, 55-DMA
SUP 4: $0.8480 – 38.2% Fibonacci 0.8052-0.8745
The move lower for the AUD/NZD continued on Thursday with the pair dipping below both the 21-DMA (NZ$1.0809) and 100-DMA (NZ$1.0767) before recovering lost ground. Bulls continue to look for a close above the NZ$1.0848 resistance to confirm an easing of bearish pressure and see focus shift back to the NZ$1.0908-10 region. Bears target a break of the Apr 10 low which then sees immediate focus shift to the NZ$1.0640 Mar 27 low.
RES 4: NZ$1.1036 – 50.0% Fibonacci 1.1579-1.0476
RES 3: NZ$1.0947 – 2014 high Feb 4
RES 2: NZ$1.0908 – 38.2% Fibonacci 1.1579-1.0476
RES 1: NZ$1.0848 – Low Apr 21 now resistance
LPRICE: NZ$1.0821
SUP 1: NZ$1.0762 – Low Apr 24
SUP 2: NZ$1.0738 – Low Apr 10
SUP 3: NZ$1.0728 – 38.2% Fibonacci 1.0544-1.0911
SUP 4: NZ$1.0640 – Low Mar 27
The close below the 21-DMA Wednesday eased the previous bullish pressure with the previous key Y94.81 support giving way on Thursday. Immediate focus has shifted to the rising daily channel base off the Feb monthly low. The 21 day lower Bollinger band is noted at Y94.85 today and given that closes below are a rarity we could see some consolidation before the pair continues with the move lower.
RES 4: Y96.24 – High Apr 23
RES 3: Y95.59 – 21-DMA
RES 2: Y95.34 – High Apr 24
RES 1: Y95.00 – High Apr 25
LPRICE: Y94.83
SUP 1: Y94.52 – Low Apr 25
SUP 2: Y93.78 – Rising daily channel base
SUP 3: Y93.35 – 38.2% Fibonacci 88.27-96.49
SUP 4: Y92.98 – 100-DMA
Wednesday’s close above the falling daily channel top, 21-DMA, 200-DMA and previous resistance at A$1.4868 was followed up with consolidation above the 200-DMA as the pair pauses ahead of the key A$1.4959 resistance level. Bulls need a close above this level to confirm bullish pressure with the A$1.5089-1.5254 region then being targeted. Bears need a close below the 200-DMA to signal a false break higher and see focus shift back to 2014 lows
RES 4: A$1.5164 – High Mar 24
RES 3: A$1.5101 – 38.2% Fibonacci 1.5822-1.4654
RES 2: A$1.5079 – 55-DMA
RES 1: A$1.4959 – High Mar 27
LPRICE: A$1.4910
SUP 1: A$1.4854 – 200-DMA
SUP 2: A$1.4809 – 21-DMA
SUP 3: A$1.4654 – 2014 low Apr 10
SUP 4: A$1.4560 – Low Nov 22 2013
The Krw1044.7-1050.6 resistance region is key for USD/KRW. A close above Krw1050.6 is needed to see bulls back in control, confirm a break of the 21-DMA and see immediate focus shift to the Krw1059.5 Apr 3 high. While the Krw1044.7-1050.6 region caps, bears will continue to initially target fresh 2014 lows with sub Krw1000.0 levels remaining the overall focus. Daily studies are slowly correcting from O/S levels and may continue to provide support on dips.
RES 4: Krw1050.6 – Low Apr 7
RES 3: Krw1048.3 – Previous 2013 Low Dec 31 now resistance
RES 2: Krw1046.5 – 21-DMA
RES 1: Krw1044.7 – High Apr 16
LPRICE: Krw1041.3
SUP 1: Krw1034.4 – Low Apr 17
SUP 2: Krw1031.4 – 2014 low Apr 10
SUP 3: Krw997.8 – Monthly low July 10 2008
SUP 4: Krw973.7 – Monthly Low Apr 7 2008
The Sgd1.2547 confirmed its significance as support last week with the USD/SGD bouncing from ahead of this level Thursday and Friday. Initial support remains at the Sgd1.2547 level that previously capped with bears needing a close below to regain control and shift immediate focus back to the Sgd1.2485 Apr 17 low. While Sgd1.2547 supports bulls will initially target the 200-DMA and then the Sgd1.2650 Apr 4 high.
RES 4: Sgd1.2650 – High Apr 4
RES 3: Sgd1.2622 – 50.0% Fibonacci 1.2794-1.2450
RES 2: Sgd1.2609- 200-DMA
RES 1: Sgd1.2595- High Apr 25
LPRICE: Sgd1.2565
SUP 1: Sgd1.2547 – High Apr 15 now support
SUP 2: Sgd1.2512 – Alternating hourly support/resistance
SUP 3: Sgd1.2485 – Low Apr 17
SUP 4: Sgd1.2451 – 2014 low Apr 9, 21 day lower Bollinger band
