AUD/USD: Continues to trade above upper Bolli. The pair continues to make fresh 4 month highs but looks a little ahead of itself as it continues to trade above the rising 21 day upper Bollinger band ($1.0484). Overall focus remains on tests of the 2012 highs from back on Feb 29 with a close below the July 26 hourly support needed to shift focus back to the 100 day moving average.
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: 1.0500
SUP 1: $1.0382 – Hourly support July 26
SUP 2: $1.0284 – 200 day moving average
SUP 3: $1.0193 – 100 day moving average
SUP 4: $1.0180 – Low July 16
NZD/USD: Lacking follow through to start the week. Fresh 3 month highs to start the week lacked follow through with the rising 21 day upper Bollinger band continuing to cap bounces. The $0.8235-0.8317 region is remains initial focus with back below the 200 day moving average needed to shift focus back to retests of July monthly lows.
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: 0.8085
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: Hesitating ahead of monthly highs. Flat 21 day Bollinger bands are hinting at further range trading as the pair has lacked follow though since marginally setting fresh July monthly highs late last week. Failure to break above the JPY82.50-65 region would see focus shift back to the JPY79.30-55 region with the JPY81.25-40 region seen as initial support.
RES 4: Jpy86.81 – High April 2
RES 3: Jpy84.81 – High April 23
RES 2: Jpy84.53 – High April 27
RES 1: Jpy82.65 – 21 day upper Bollinger band
LATEST PRICE: 82.08
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: Pressure on lower levels. USD/KRW continues to pause ahead of the layers of support in the Krw1130-33 region with a break below seeing focus turn to retests of 2012 lows from back on March 2. Topside the pair needs to break back above the Krw1155-65 region to shift focus back to retests of 2012 highs. Daily tech studies remain at largely neutral levels.
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: 1136.4
SUP 1: Krw1132.9 – Low July 5
SUP 2: Krw1131.7 – 21 day lower Bollinger band
SUP 3: Krw1125.1 – Low May 2
SUP 4: Krw1112.8 – 2012 Low Mar 2
USD/SGD: Remains heavy to start the week. The pair paused ahead of last week’s fresh monthly lows but remains heavy with back above the July 27 hourly resistance needed to shift focus back towards July 16 highs. The pair continues to trade around the falling 21 day lower Bollinger band but don’t expect to see closes too much below the lower band with oscillation expected to continue.
RES 4: Sgd1.2671 – High July 16
RES 3: Sgd1.2612 – 21 day moving average
RES 2: Sgd1.2585 – Hourly resistance July 26
RES 1: Sgd1.2538 – Hourly resistance July 27
LATEST PRICE: 1.2467
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