AUD/USD: $1.0140 the level to watch topside today. Retests of the 21 day MA and then the June 8 lows beneath currently remain favoured until the AUD can manage to close back above the $1.0140 spike low from June 20 that is expected to cap on bounces. A close above the $1.0140 level would then see focus shift back to a break of the key $1.0220-50 resistance region.
RES 4: $1.0247 – 200 day moving average
RES 3: $1.0226 – Previous daily support now resistance
RES 2: $1.0140 – Spike low June 20 now resistance
RES 1: $1.0082 – High June 26
LATEST PRICE: 1.0065
SUP 1: $0.9940 – 21 day moving average
SUP 2: $0.9823 – Low June 8
SUP 3: $0.9634 – 21 day lower Bollinger band
SUP 4: $0.9584 – 2012 Low June 1
AUD/JPY: Failed at Fibo level and Cloud base. Last week’s pause ahead of 50% Fibo retracement at Jpy81.57 has seen initial focus shift lower to tests of the Jpy78.00-60 region with an overall retest of 2012 lows a possibility. The 50% Fibo level remains key topside with a close above needed to kick start topside momentum and relieve current downside pressure.
RES 4: Jpy82.90 – 100 day moving average
RES 3: Jpy82.51 – Previous daily support now resistance
RES 2: Jpy81.57 – 50.0% retracement of Jpy88.64-74.51 move
RES 1: Jpy80.40 – Previous hourly support now resistance
LATEST PRICE: 80.00
SUP 1: Jpy78.78 – 21 day moving average
SUP 2: Jpy78.10 – Low June 12
SUP 3: Jpy77.73 – Low June 8
SUP 4: Jpy75.60 – 21 day lower Bollinger band
NZD/USD: Consolidating below 200 day MA. The bounce from recent lows has paused ahead of the 200 day MA with a close back above now needed to shift the immediate focus away from tests of the 21 day MA which currently remain favoured. Back above the 200 day MA sees focus shift back to retests of key resistance noted in the $0.8050-60 region.
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: $0.7947 – 200 day moving average
LATEST PRICE: 0.7913
SUP 1: $0.7845 – Low June 25
SUP 2: $0.7791 – Hourly support June 14
SUP 3: $0.7751 – 21 day moving average
SUP 4: $0.7621 – Low June 8
USD/KRW: Krw1165.2 seen as somewhat pivotal. The Krw1165.2 level remains somewhat pivotal within the recently defining Krw1148-1187 range. Back above Krw1165.2 sees focus shift back to retests of 2012 highs. While USD/KRW remains capped at Krw1165.2, retests of the key Krw1144-48 support region remain the focus. For now with daily tech studies correcting from oversold we favour a break higher.
RES 4: Krw1194.9 – High Oct 5 2011
RES 3: Krw1186.7 – 2012 High June 4
RES 2: Krw1168.0 – 21 day moving average
RES 1: Krw1165.2 – High June 18
LATEST PRICE: 1158.6
SUP 1: Krw1147.8 – Previous daily resistance now support
SUP 2: Krw1143.8 – 200 day moving average
SUP 3: Krw1125.1 – Low May 2
SUP 4: Krw1120.0 – Low Mar 19
USD/SGD: Consolidates above 200 day ma. The pair consolidates above the 200 day MA with initial focus now on retests of the June monthly highs and then the Sgd1.3200 level overall. Flat 21 day Bollinger bands continue to suggest stalling topside at Sgd1.2938 for now and daily tech studies continue to recover from oversold levels. Sgd1.2640-50 remains key support with stops below.
RES 4: Sgd1.3004 – 2012 high Jan 9
RES 3: Sgd1.2970 – Monthly high June 1
RES 2: Sgd1.2938 – 21 day upper Bollinger band
RES 1: Sgd1.2888 – High June 8
LATEST PRICE: 1.2771
SUP 1: Sgd1.2734 – High June 18 now support
SUP 2: Sgd1.2726 – 200 day moving average
SUP 3: Sgd1.2649 – Low June 19
SUP 4: Sgd1.2611 – 100 day moving average
GOLD: Remains heavy for now. Gold continues to consolidate at the lower end of recent ranges with a close above the $1195-00 region needed to shift focus back to retests of the $1630-40 region. The bearish 5/21 day MA crossover adds weight to the bearish case as do daily tech studies correcting lower. The 100 week MA will be closely watched for a close below this week.
RES 4: $1648.3 – 100 day moving average
RES 3: $1640.1 – High June 6
RES 2: $1622.6 – Hourly resistance June 19
RES 1: $1592.7 – Low June 20 now resistance
LATEST PRICE: 1573.1
SUP 1: $1559.1 – Low June 22
SUP 2: $1550.3 – 21 day lower Bollinger band
SUP 3: $1541.3 – 100 week moving average
SUP 4: $1523.0 – Low Dec 29
EasyForexNews Research Team