AUD/USD: July 5 highs in focus. The pair has popped above the 200 day MA following the bounce from ahead of pivotal support at $1.0158. The July 5 high remains key topside with a break above seeing focus shift to initial tests of the April monthly highs and then the 2012 highs above. The rising daily TL off 2012 lows is seen supporting in the $1.0170-80 region today.
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: $1.0282 – High July 11
LATEST PRICE: 1.0258
SUP 1: $1.0158 – Hourly support June 29
SUP 2: $1.0145 – 21 day moving average
SUP 3: $0.9972 – Low June 25
SUP 4: $0.9938 – 21 day lower Bollinger band
NZD/USD: 100 day MA caps on first attempt. The NZD marginally dipped below the 21 day MA before bouncing to test the 100 day MA which has capped so far. Back below the 21 day MA is needed to shift focus to tests of the $0.7842 level and then 2012 lows beneath while back above the 100 day MA sees initial focus on tests of trend highs and then April monthly highs overall.
RES 4: $0.8235 – High April 30
RES 3: $0.8093 – 21 day upper Bollinger band
RES 2: $0.8083 – 61.8% retracement of $0.8461-0.7461 move
RES 1: $0.8000 – 100 day moving average
LATEST PRICE: 0.7987
SUP 1: $0.7938 – 21 day moving average
SUP 2: $0.7842 – Low June 28
SUP 3: $0.7783 – 21 lower Bollinger band
SUP 4: $0.7671 – Low June 12
AUD/JPY: 21 day MA seen as pivotal support. With the pair again bouncing off the 21 day MA it has confirmed its significance as a likely pivotal support level. Topside the AUD/JPY needs to deal with layers of resistance in the Jpy82.50-65 region including the 100 day MA (Jpy82.57) and the 21 week MA (Jpy82.64). Based on this expect further sideways within a Jpy80.75-82.75 range.
RES 4: Jpy84.81 – High April 13
RES 3: Jpy83.24 – 61.8% retracement of Jpy74.51-88.64 move
RES 2: Jpy82.63 – 21 day upper Bollinger band
RES 1: Jpy82.51 – Previous daily support now resistance
LATEST PRICE: 81.49
SUP 1: Jpy80.75 – 21 day moving average
SUP 2: Jpy79.33 – Low June 25
SUP 3: Jpy78.88 – 21 day lower Bollinger band
SUP 4: Jpy77.73 – Low June 8
USD/KRW: Double daily bottom supports. A double daily bottom in USD/KRW at the Krw1140.0 while the pair remains capped at the initial resistance sees the pair doing little in narrow ranges. Back below Krw1140.0 is needed to relieve topside pressure while a close above the 21 day MA at Krw1150.6 is needed to shift focus back to retests of 2012 highs.
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: 1141.8
SUP 1: Krw1140.0 – Low July 10
SUP 2: Krw1132.9 – Low July 5
SUP 3: Krw1125.1 – Low May 2
SUP 4: Krw1120.0 – Low Mar 19
USD/SGD: Closely watching 21 day moving average. Spike lower saw the pair bounce from the now triple daily bottom in the Sgd1.2607-14 region but a close above the 21 day MA is needed to shift focus from continued tests of the key support region. A break lower would see focus shift to retests of 2012 lows. The 21 week MA at Sgd1.2624 is noted with a weekly close below likely to add weight to the bearish case.
RES 4: Sgd1.2970 – Monthly high June 1
RES 3: Sgd1.2888 – High June 8
RES 2: Sgd1.2840 – 21 day upper Bollinger band
RES 1: Sgd1.2718 – 21 day moving average
LATEST PRICE: 1.2637
SUP 1: Sgd1.2607 – Low July 5
SUP 2: Sgd1.2595 – 21 day lower Bollinger band
SUP 3: Sgd1.2546 – Low May 15
SUP 4: Sgd1.2447 – Low May 8
EasyForexNews Research Team