AUD/USD: Focus remains on lower levels. With the AUD again rejected on a bounce, this time ahead of the spike low from June 20, initial focus remains on tests of the 21 day MA and then potentially the 2012 lows. Daily tech studies are now back at more neutral levels but the pair needs to take out layers of resistance noted in the $1.0140-1.0280 region to shift focus away from lower levels.
RES 4: $1.0280 – 100 day moving average
RES 3: $1.0248 – 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: 1.0041
SUP 1: $0.9967 – 21 day moving average
SUP 2: $0.9823 – Low June 8
SUP 3: $0.9677 – 21 day lower Bollinger band
SUP 4: $0.9584 – 2012 Low June 1
AUD/JPY: Lower levels remain favoured. A test of the 21 day MA remains the initial focus for AUD/JPY with a close above the Jpy81.55-60 region needed to shift overall focus higher and away from potential retests of 2012 lows. The 200 week MA is noted at Jpy78.73 with a weekly close below, if seen, adding significant weight to the current bearish case.
RES 4: Jpy82.88 – 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: Jpy80.55 – High June 28
LATEST PRICE: 79.76
SUP 1: Jpy79.02 – 21 day moving average
SUP 2: Jpy78.10 – Low June 12
SUP 3: Jpy77.73 – Low June 8
SUP 4: Jpy75.91 – 21 day lower Bollinger band
NZD/USD: Rejected from above the 200 day MA again. NZD managed to spike but failed to close above the 200 day MA which ensures initial focus remains on tests of the 21 day MA and then the 2012 lows at $0.7460 beneath. A close above the 200 day MA is needed to shift focus back to tests of the key $0.8060-80 region. A close below the 100 week MA this week would add weight to the bearish
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: 0.7877
SUP 1: $0.7842 – Low June 28
SUP 2: $0.7791 – Hourly support June 14
SUP 3: $0.7781 – 21 day moving average
SUP 4: $0.7621 – Low June 8
USD/SGD: Sgd1.2748 confirms as initial support. Yesterday’s dip bounced nicely from ahead of initial support with initial focus remaining on tests of the Sgd1.2970 June monthly highs and then the Sgd1.3200 level beyond. A close back below the 200 day MA is needed to shift focus lower once more and back to the key support at Sgd1.2649 with stops noted below.
RES 4: Sgd1.3004 – 2012 high Jan 9
RES 3: Sgd1.2970 – Monthly high June 1
RES 2: Sgd1.2928 – 21 day upper Bollinger band
RES 1: Sgd1.2888 – High June 8
LATEST PRICE: 1.2805
SUP 1: Sgd1.2748 – Low June 22
SUP 2: Sgd1.2724 – 200 day moving average
SUP 3: Sgd1.2649 – Monthly low June 19
SUP 4: Sgd1.2620 – 100 day moving average
USD/KRW: Sideways trading continues. USD/KRW appears content to trade sideways within the recent Krw1147-1165 range with the Krw1165.2 level seen as somewhat pivotal. While below the Krw1165.2 level the risk remains for retests of the key support in the Krw1144-1148 region, where as back above Krw1165.2 shifts focus back to retests of the 2012 highs
RES 4: Krw1194.9 – High Oct 5 2011
RES 3: Krw1186.7 – 2012 High June 4
RES 2: Krw1166.0 – 21 day moving average
RES 1: Krw1165.2 – High June 18
LATEST PRICE: 1154.5
SUP 1: Krw1147.8 – Previous daily resistance now support
SUP 2: Krw1143.7 – 200 day moving average
SUP 3: Krw1125.1 – Low May 2
SUP 4: Krw1120.0 – Low Mar 19
EasyForexNews Research Team