AUD/USD: Sharp rejection from topside failure. Failure at the $1.0226 key resistance level combined with o/b daily tech studies has seen initial focus shift to tests of the $0.9904-22 region and then 2012 lows ($0.9584) below. The Aussie needs to close above the $1.0226-50 region to negate this view with the 200 day MA seen at $1.0250. Initial resistance is seen at the $1.0140 spike
low from June 20.
RES 4: $1.0316 – 100 day moving average
RES 3: $1.0250 – 200 day moving average
RES 2: $1.0226 – Previous daily support now resistance
RES 1: $1.0140 – Spike low June 20 now resistance
LATEST PRICE: 1.0035
SUP 1: $0.9996 – Low June 15
SUP 2: $0.9922 – Low June 14
SUP 3: $0.9904 – 21 day moving average
SUP 4: $0.9823 – Low June 8
AUD/JPY: 50% Fibonacci level caps move higher. The 50% Fibo has capped the move higher to the pip so far. The pattern of higher highs and lows continued yesterday which means a break back below the Jpy80.20 lows from June 20 is needed to shift focus back to tests of the 21 day moving average. A close above the Jpy81.57-62 region is needed to kick start topside momentum.
RES 4: Jpy83.29 – 61.8% retracement of Jpy88.64-74.51 move
RES 3: Jpy82.51 – Previous daily support now resistance
RES 2: Jpy81.62 – Ichimoku Cloud base
RES 1: Jpy81.57 – 50.0% retracement of Jpy88.64-74.51 move
LATEST PRICE: 80.58
SUP 1: Jpy80.20 – Low 20 June
SUP 2: Jpy79.79 – Low 19 June
SUP 3: Jpy78.73 – Low 14 June
SUP 4: Jpy78.45 – 21 day moving average
NZD/USD: Daily key reversal sees focus shift lower. O/B daily tech studies and the failure to close above June 19 highs has seen the focus shift back to tests of the 21 day MA and then the double daily bottom and 2012 lows in the $0.7450-60 region. Initial resistance is seen at the spike low from June 20 with the $0.8060-85 region remaining key resistance.
RES 4: $0.8083 – 61.8% retracement of $0.8461-0.7461 move
RES 3: $0.8061 – Previous daily support now resistance
RES 2: $0.8016 – High June 21
RES 1: $0.7921 – Spike low June 20 now resistance
LATEST PRICE: 0.7859
SUP 1: $0.7791 – Hourly support June 14
SUP 2: $0.7751 – Low June 13
SUP 3: $0.7686 – 21 day moving average
SUP 4: $0.7621 – Low June 8
USD/KRW: Break higher now favoured. June 18 highs are expected to be retested today with stops noted above and a break higher seeing focus shift initially to retests of the 21 day moving average and then the 2012 highs at Krw1186.7 above. Oversold daily tech studies are looking to turn back up and the key support in the Krw1140-48 region appears to be safe for now.
RES 4: Krw1194.9 – High Oct 5 2011
RES 3: Krw1186.7 – 2012 High June 4
RES 2: Krw1170.9 – 21 day moving average
RES 1: Krw1165.2 – High June 18
LATEST PRICE: 1151.7
SUP 1: Krw1147.8 – Previous daily resistance now support
SUP 2: Krw1143.4 – 200 day moving average
SUP 3: Krw1125.1 – Low May 2
SUP 4: Krw1120.0 – Low Mar 19
USD/SGD: Focus back on June monthly highs. Break above the June 18 highs has seen the 21 day MA retested, o/s daily tech studies correcting and focus now on retests of the June monthly highs at Sgd1.2947 with the flat 21 day upper Bollinger noted just beneath at Sgd1.2938. Initial support is now seen at the Sgd1.2734 highs from June 18 with the Sgd1.2649 June 19 lows remaining key support.
RES 4: Sgd1.3004 – 2012 high Jan 9
RES 3: Sgd1.2970 – Monthly high June 1
RES 2: Sgd1.2888 – High June 8
RES 1: Sgd1.2797 – 21 day moving average
LATEST PRICE: 1.2790
SUP 1: Sgd1.2734 – High June 18 now support
SUP 2: Sgd1.2649 – Low June 19
SUP 3: Sgd1.2604 – 100 day moving average
SUP 4: Sgd1.2587 – 61.8% retracement of Sgd1.2349-1.2970 move
EasyForexNews Research Team