AUD/USD: Fresh 4 month highs. Fresh 4 month highs for the pair to end the week sees overall focus on retests of the 2012 highs. The move higher may have gotten a little ahead of itself with the pair having closed above the 21 day upper Bollinger band with further oscillation around the upper band expected to continue. Back below the 200 day MA is needed to shift focus lower.
RES 4: $1.0856 – 2012 high Feb 29
RES 3: $1.0690 – High March 6
RES 2: $1.0635 – High March 19
RES 1: $1.0556 – High March 27
LATEST PRICE: 1.0476
SUP 1: $1.0382 – Hourly support July 26
SUP 2: $1.0284 – 200 day moving average
SUP 3: $1.0194 – 100 day moving average
SUP 4: $1.0180 – Low July 16
NZD/USD: Ending the month on a strong note. With the Kiwi having taken out the layers of resistance in the $0.8072-89 region overall focus has now shifted back to potential retests of 2012 highs. The $0.8235-0.8317 region is now the initial focus and with the 21 day upper Bollinger band heading higher continued spikes above are expected as the move higher continues.
RES 4: $0.8469 – 2012 high Feb 29
RES 3: $0.8317 – High April 13
RES 2: $0.8235 – High April 30
RES 1: $0.8115 – 21 day upper Bollinger band
LATEST PRICE: 0.8101
SUP 1: $0.7964 – 200 day moving average
SUP 2: $0.7905 – Hourly support July 26
SUP 3: $0.7813 – Monthly Low July 25
SUP 4: $0.7799 – Previous daily resistance now support
AUD/JPY: Bullish close to end last week. The pair has managed to close above both the 100 day and 100 week moving averages to end the week with initial focus now on the JPY84.50-80 region. The 21 day upper Bollinger band comes in at JPY82.62 and may slow the move higher until we see the upper band begin to head higher.
RES 4: Jpy86.81 – High April 2
RES 3: Jpy84.81 – High April 23
RES 2: Jpy84.53 – High April 27
RES 1: Jpy82.62 – 21 day upper Bollinger band
LATEST PRICE: 82.25
SUP 1: Jpy81.25 – Hourly support July 27
SUP 2: Jpy80.30 – Hourly support July 26
SUP 3: Jpy80.07 – 21 day lower Bollinger band
SUP 4: Jpy79.33 – Low June 25
USD/KRW: Range trading remains in play. USD/KRW still hasn’t managed to break free of the Krw1132.9-1165.2 July monthly range but continues to look like retesting the base of this range this week. A break lower is needed to see the 2012 lows firmly in focus with back above June 18 highs needed to shift focus higher. Layers of support remain in the Krw1112-1132 region.
RES 4: Krw1186.7 – 2012 High June 4
RES 3: Krw1165.2 – High June 18
RES 2: Krw1158.1 – High July 12
RES 1: Krw1155.9 – Ichimoku cloud base
LATEST PRICE: 1138.4
SUP 1: Krw1132.9 – Low July 5
SUP 2: Krw1132.5 – 21 day lower Bollinger band
SUP 3: Krw1125.1 – Low May 2
SUP 4: Krw1112.8 – 2012 Low Mar 2
USD/SGD: Closes below lower Bollinger band. Fresh lows for the month to end the week see the focus firmly on retests of 2012 lows set back on April 30. The pair close below the falling 21 day lower Bollinger band which suggests the move lower may have gotten a little ahead of it self and we continue to expect further oscillation around the lower Bollinger band as the pair heads lower overall.
RES 4: Sgd1.2671 – High July 16
RES 3: Sgd1.2621 – 21 day moving average
RES 2: Sgd1.2585 – Hourly resistance July 26
RES 1: Sgd1.2538 – Hourly resistance July 27
LATEST PRICE: 1.2474
SUP 1: Sgd1.2460 – Low July 27
SUP 2: Sgd1.2349 – 2012 Low April 30
SUP 3: Sgd1.2283 – Monthly low Sept 2011
SUP 4: Sgd1.2000 – Key psychological support
EasyForexNews Research Team