AUD/USD: Bouncing from lows for now. The pair has bounced from the June 29 hourly support but needs to close above $1.0242 to see focus return to tests of the July 5 highs. While $1.0242 caps the AUD/USD risks testing the 21 day MA and then layers of support in the $0.9970-00 region. Correcting overbought daily tech studies currently weigh on the pair also.
RES 4: $1.0469 – Monthly high April 30
RES 3: $1.0371 – 61.8% retracement of $1.0856-0.9584 move
RES 2: $1.0330 – High July 5
RES 1: $1.0242 – Previous hourly support now resistance
LATEST PRICE: 1.0203
SUP 1: $1.0158 – Hourly support June 29
SUP 2: $1.0115 – 21 day moving average
SUP 3: $0.9972 – Low June 25
SUP 4: $0.9874 – 21 day lower Bollinger band
AUD/JPY: Dips below 200 day MA. Despite the brief dip below the 200 day MA, the pair is virtually unchanged from the time of writing yesterday. The initial focus remains on tests of the 21 day MA and then the June 29 lows below. Topside the Jpy82.50-70 region remains key with a break above needed to see overall focus shift to tests of 2012 highs.
RES 4: Jpy84.81 – High April 13
RES 3: Jpy82.67 – 100 day moving average
RES 2: Jpy82.51 – Previous daily support now resistance
RES 1: Jpy81.50 – Hourly resistance July 9
LATEST PRICE: 81.23
SUP 1: Jpy81.08 – 200 day moving average
SUP 2: Jpy80.69 – Hourly support June 29
SUP 3: Jpy80.51 – 21 day moving average
SUP 4: Jpy79.33 – Low June 25
NZD/USD: Pausing ahead of 21 day MA. With the pair having bounced from just ahead of the 21 day moving average the Kiwi needs to close back above the 100 day MA to see focus return to tests of the key resistance at $0.8083. Failure to do so sees the Kiwi looking to retest of the June 28 support level at $0.7842. Daily tech studies weigh as they correct from overbought levels.
RES 4: $0.8235 – High April 30
RES 3: $0.8114 – 21 day upper Bollinger band
RES 2: $0.8083 – 61.8% retracement of $0.8461-0.7461 move
RES 1: $0.8007 – 100 day moving average
LATEST PRICE: 0.7970
SUP 1: $0.7916 – 21 day moving average
SUP 2: $0.7842 – Low June 28
SUP 3: $0.7720 – 21 lower Bollinger band
SUP 4: $0.7671 – Low June 12
USD/KRW: Sideways below key resistance. While USD/KRW remains capped ahead of the Krw1147.7 level with the 21 day MA lurking just above at Krw1153.5 the pair will continue to retain initial focus on tests of the May 2 lows and then overall the 2012 lows. A close above the 21 day MA is needed to see potential for retests of the 2012 highs to be considered once more.
RES 4: Krw1186.7 – 2012 High June 4
RES 3: Krw1165.2 – High June 18
RES 2: Krw1160.4 – High June 28
RES 1: Krw1147.7 – Previous daily support now resistance
LATEST PRICE: 1142.3
SUP 1: Krw1132.9 – Low July 5
SUP 2: Krw1125.1 – Low May 2
SUP 3: Krw1120.0 – Low Mar 19
SUP 4: Krw1112.8 – Low Mar 2
USD/SGD: Sgd1.2610-1.2890 range trading this week. An inside day for the pair yesterday as it consolidated at the upper end of Friday’s range before drifting down to session lows. Initial support is seen at the somewhat pivotal Sgd1.2672 alternating hourly support and resistance level with back below seeing the pair headed lower to retest the double daily bottom around Sgd1.2607.
RES 4: Sgd1.2970 – Monthly high June 1
RES 3: Sgd1.2888 – High June 8
RES 2: Sgd1.2870 – 21 day upper Bollinger band
RES 1: Sgd1.2750 – Previous hourly support now resistance
LATEST PRICE: 1.2694
SUP 1: Sgd1.2672 – Alternating hourly support/resitance
SUP 2: Sgd1.2607 – Low July 5
SUP 3: Sgd1.2546 – Low May 15
SUP 4: Sgd1.2447 – Low May 8
EasyForexNews Research Team