AUD/USD: Tests upper 21 day Bollinger band. The AUD is starting to look a little tired and is risking a pullback to the key support noted at $1.0158. For now, small stops are noted below yesterday’s low but back below $1.0158 is needed to shift the overall focus from a test of the April monthly high at $1.0469. The 21 day upper Bollinger band continues to rise and is noted around the $1.0315 level.
RES 4: $1.0556 – High Mar 27
RES 3: $1.0469 – Monthly high April 30
RES 2: $1.0371 – 61.8% retracement of $1.0856-0.9584 move
RES 1: $1.0320 – High July 4
LATEST PRICE: 1.0278
SUP 1: $1.0260 – Low July 4
SUP 2: $1.0212 – Low July 2
SUP 3: $1.0158 – Hourly support June 29
SUP 4: $0.9972 – Low June 25
NZD/USD: Marginal pop above key resistance. The NZD managed to break above previous initial resistance at $0.8061 by a couple of pips but is looking heavy with an increased risk of a dip back towards the 21 day moving average. Overall back below the June 28 low is needed to end hopes of tests of the $0.8235-17 region which are currently favoured.
RES 4: $0.8317 – High April 13
RES 3: $0.8235 – High April 30
RES 2: $0.8083 – 61.8% retracement of $0.8461-0.7461 move
RES 1: $0.8064 – High July 4
LATEST PRICE: 0.8037
SUP 1: $0.8002 – Low July 22
SUP 2: $0.7963 – Hourly support June 29
SUP 3: $0.7811 – 21 day moving average
SUP 4: $0.7842 – Low June 28
AUD/JPY: 200 day MA seen as pivotal support. As the pair consolidates above the 200 day MA it continues to test the rising 21 day upper Bollinger band (Jpy82.40). The overall focus remains on a test of the April 13 highs with a close back below the 200 day MA needed to negate this view. Back below the 200 day MA would see initial focus shift back to the June 25 lows.
RES 4: Jpy84.81 – High April 13
RES 3: Jpy82.74 – Ichimoku cloud top
RES 2: Jpy82.51 – Previous daily support now resistance
RES 1: Jpy82.40 – 21 day upper Bollinger band
LATEST PRICE: 82.04
SUP 1: Jpy80.92 – 200 day moving average
SUP 2: Jpy80.69 – Hourly support June 29
SUP 3: Jpy79.33 – Low June 25
SUP 4: Jpy78.10 – Low June 12
USD/SGD: An inside day. An inside day as USD/SGD consolidated the break below the previous key support at Sgd1.2649 sees the pair continue to look heavy with a topside a close back above the 1.2750 level needed to confirm an end to the current move lower. Overall focus remains on tests of the 2012 lows at Sgd1.2349 from April 30.
RES 4: Sgd1.2970 – Monthly high June 1
RES 3: Sgd1.2896 – 21 day upper Bollinger band
RES 2: Sgd1.2888 – High June 8
RES 1: Sgd1.2750 – Previous hourly support now resistance
LATEST PRICE: 1.2662
SUP 1: Sgd1.2585 – Ichimoku cloud base
SUP 2: Sgd1.2546 – Low May 15
SUP 3: Sgd1.2447 – Low May 8
SUP 4: Sgd1.2349 – 2012 Low April 30
EasyForexNews Research Team