AUD/USD: Very bullish NY close. The pair ended the overnight session on a bullish note and just below the July 5 highs with stops noted above. Layers of resistance are seen in the $1.0330-71 region but with the 21 day upper Bollinger band now heading higher a break above the $1.0330 level sees initial focus on tests of the April monthly highs with overall focus shifting to retests 2012 highs.
RES 4: $1.0474 – Monthly high Apr 27
RES 3: $1.0371 – 61.8% retracement of $1.0856-0.9584 move
RES 2: $1.0365 – 21 day upper Bollinger band
RES 1: $1.0330 – High July 5
LATEST PRICE: 1.0311
SUP 1: $1.0236 – Low July 17
SUP 2: $1.0201 – Low July 16
SUP 3: $1.0165 – Low July 12
SUP 4: $1.0101 – Low July 12
NZD/USD: Remains range bound for now. The NZD remains confined to the recent $0.7842-0.8072 range for now with a break of either side likely to yield the next trending move. Layers of resistance remain in the $0.8068-83 region with a break above seeing initial focus turn to tests of April 30 highs. Downside the $0.7930-35 support region has confirmed its significance yet again o/n
RES 4: $0.8235 – High April 30
RES 3: $0.8083 – 61.8% retracement of $0.8461-0.7461 move
RES 2: $0.8068 – 21 day upper Bollinger band
RES 1: $0.8002 – High July 17
LATEST PRICE: 0.7978
SUP 1: $0.7932 – Alternating hourly support/resistance
SUP 2: $0.7889 – Ichimoku cloud top
SUP 3: $0.7842 – Low June 28
SUP 4: $0.7733 – Low June 13
AUD/JPY: Above Jpy79.30-35 shifts focus higher. The pair has closed above the 200 day MA (Jpy81.27) once again but needs to take out resistance in the Jpy82.30-35 region to break free of its current broad Jpy79.33-82.33 range trading. A break higher sees focus shift to retests of the April 13 highs with the 21 day upper Bollinger (Jpy82.47) starting to head higher.
RES 4: Jpy84.81 – High April 13
RES 3: Jpy83.24 – 61.8% retracement of Jpy74.51-88.64 move
RES 2: Jpy82.36 – 100 day moving average
RES 1: Jpy81.79 – High July 11
LATEST PRICE: 81.60
SUP 1: Jpy80.45 – Hourly support July 13-17
SUP 2: Jpy80.07 – Low July 12
SUP 3: Jpy79.33 – Low June 25
SUP 4: Jpy78.63 – 200 week moving average
USD/KRW: Looking a little heavy. USD/KRW remains confined to the Krw1132.9-1165.2 range that has defined for the past 4 weeks or so with a break of either side needed to inject fresh life. The pair managed to hold above the 200 day MA yesterday (Krw1141.5) but this is expected to be taken out today with initial focus on retests of range lows and then 2012 lows below.
RES 4: Krw1207.8 – Monthly high Oct 4
RES 3: Krw1186.7 – 2012 High June 4
RES 2: Krw1165.2 – High June 18 & upper 21 day Bollinger band
RES 1: Krw1158.1 – High July 12
LATEST PRICE: 1144.6
SUP 1: Krw1140.0 – Low July 10
SUP 2: Krw1132.9 – Low July 5
SUP 3: Krw1125.1 – Low May 2
SUP 4: Krw1112.8 – Monthly Low Mar 2
USD/SGD: Very bearish New York close. A very bearish close around the lowest levels seen in 9 weeks and a now falling 21 day lower Bollinger band see focus shift lower with a retest of 2012 lows at Sgd1.2349 now a possibility. Stops are expected below the Sgd1.2600 level with more likely below the 61.8% Fibonacci retracement of the May-June rally. Above July 16 highs is needed to negate this view.
RES 4: Sgd1.2823 – 21 day upper Bollinger band
RES 3: Sgd1.2748 – High July 6
RES 2: Sgd1.2728 – High July 12 & 13
RES 1: Sgd1.2671 – High July 16
LATEST PRICE: 1.2606
SUP 1: Sgd1.2587 – 61.8% retracement of Sgd1.2349-1.2974 move
SUP 2: Sgd1.2577 – 21 day lower Bollinger band
SUP 3: Sgd1.2546 – Low May 15
SUP 4: Sgd1.2447 – Low May 8
EasyForexNews Research Team