AUD/USD: Fails at the $1.0556 hurdle. Following yet another fresh 4 month high the AUD/USD reversed sharply from just short of the Mar 27 highs that were initially targeted. Downside the pair now needs to close back below the $1.0382 hourly support from July 26 to see initial focus shif back to tests of the 200 day MA and then the July monthly lows below.
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: 1.0458
SUP 1: $1.0448 – Low July 30
SUP 2: $1.0382 – Hourly support July 26
SUP 3: $1.0285 – 200 day moving average
SUP 4: $1.0193 – 100 day moving average
NZD/USD: Sharp reversal from above upper Bollinger. The sharp spike above the rising 21 day upper Bollinger band lacked follow through with the pair setting fresh lows for the week as a result. The July 27 lows remain the level to watch downside with a close below needed to shift focus back towards tests of the July monthly low. Topside the focus remains on tests of April 30 highs for now.
RES 4: $0.8469 – 2012 high Feb 29
RES 3: $0.8317 – High April 13
RES 2: $0.8235 – High April 30
RES 1: $0.8128 – 21 day upper Bollinger band
LATEST PRICE: 0.8075
SUP 1: $0.7992 – Low July 27
SUP 2: $0.7965 – 200 day moving average
SUP 3: $0.7905 – Hourly support July 26
SUP 4: $0.7813 – Monthly Low July 25
AUD/JPY: Continues to hesitate ahead of Jpy82.50. Hesitation ahead of the Jpy82.50 level continues with the pair heading back towards initial support noted in the Jpy81.25-40 region with the 200 day MA noted at Jpy81.40. A close below the Jpy81.25 level is needed to see focus shift back to retests of the July monthly lows which a close above Jpy82.40 is needed to retain focus on Jpy84.81.
RES 4: Jpy86.81 – High April 2
RES 3: Jpy84.81 – High April 23
RES 2: Jpy84.53 – High April 27
RES 1: Jpy82.72 – 21 day upper Bollinger band
LATEST PRICE: 82.03
SUP 1: Jpy81.25 – Hourly support July 27
SUP 2: Jpy80.30 – Hourly support July 26
SUP 3: Jpy80.06 – 21 day lower Bollinger band
SUP 4: Jpy79.33 – Low June 25
USD/KRW: Watching May 2 lows closely. The pair is hesitating above the May 2 lows following an inside day and another spike below the falling 21 day Bollinger band yesterday. Topside the pair needs to close back above the 200 day MA to shift focus back to the Krw1155-1165 region. Daily tech studies are approaching oversold levels but are not yet of great concern.
RES 4: Krw1165.2 – High June 18
RES 3: Krw1158.1 – High July 12
RES 2: Krw1155.9 – Ichimoku cloud base
RES 1: Krw1141.2 – 200 day moving average
LATEST PRICE: 1127.1
SUP 1: Krw1125.1 – Low May 2
SUP 2: Krw1122.7 – 100 week moving average
SUP 3: Krw1112.8 – 2012 Low Mar 2
SUP 4: Krw1092.5 – Low Sept 14
USD/SGD: First bounce in over a week. First bounce of note in over a week and oversold daily tech studies are hinting at a retest of the Sgd1.2538 resistance level with a close above needed to place the immediate move towards 2012 lows on hold and see focus shift back towards tests of the Sgd1.2644 July 25 highs. While Sgd1.2538 caps the 2012 lows remain the focal point.
RES 4: Sgd1.2594 – 21 day moving average
RES 3: Sgd1.2585 – Hourly resistance July 26
RES 2: Sgd1.2538 – Hourly resistance July 27
RES 1: Sgd1.2500 – Alternating hourly resistance/support
LATEST PRICE: 1.2480
SUP 1: Sgd1.2430 – Low July 31
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