AUD/USD: Consolidates ahead of resistance. Marginal fresh 4 month highs once again for the AUD/USD as it continues to pause ahead of the March 19 highs. Overbought daily tech studies remain a concern but back below the Aug 2 lows is needed to shift focus away from higher levels and back to retests of the July monthly lows, although the 100 day MA is expected to slow any move lower.
RES 4: $1.0856 – 2012 high Feb 29
RES 3: $1.0690 – High March 6
RES 2: $1.0672 – 21 day upper Bollinger band
RES 1: $1.0635 – High March 19
LATEST PRICE: 1.0581
SUP 1: $1.0530 – Hourly support Aug 8
SUP 2: $1.0498 – Hourly support Aug 3
SUP 3: $1.0436 – Low Aug 2
SUP 4: $1.0382 – Hourly support July 26
NZD/USD: $0.8069 seen as somewhat pivotal support. Lower daily highs and lows continue as the Kiwi drifts back towards pivotal support noted at the Aug 1 lows. Back below this level sees focus swing lower to retests of the July monthly lows, while above $0.8069 initial focus remains on the $0.8235-0.8317 region. Overbought daily tech studies should be noted as a concern.
RES 4: $0.8405 – High Mar 1
RES 3: $0.8317 – High April 13
RES 2: $0.8235 – High April 30
RES 1: $0.8166 – High Aug 8
LATEST PRICE: 0.8119
SUP 1: $0.8069 – Low Aug 1
SUP 2: $0.8036 – 21 day moving average
SUP 3: $0.7992 – Low July 27
SUP 4: $0.7813 – Low July 25
AUD/JPY: Jpy82.52 the support level to watch. The move to fresh 3 month highs yesterday keeps the topside hopes alive and focus firmly on retests of the Jpy84.53-81 region. Initial support is noted at the Jpy82.52 level with stops below and a break lower expected to see the 200 day MA retested before focus shifts to retests of July monthly lows.
RES 4: Jpy86.81 – High April 2
RES 3: Jpy84.81 – High April 23
RES 2: Jpy84.53 – High April 27
RES 1: Jpy83.56 – 21 day upper Bollinger band
LATEST PRICE: 83.14
SUP 1: Jpy82.52 – Low Aug 7
SUP 2: Jpy81.57 – Low Aug 1
SUP 3: Jpy81.44 – 200 day moving average
SUP 4: Jpy81.25 – Hourly support July 27
USD/KRW: Finally the pair breaks initial support. The pair finally dipped below the Krw1125.2 level but has so far lacked follow through with oversold daily tech studies possibly slowing the move. Focus will remain on retests of the 2012 lows until the pair can manage a close back above the 200 day MA which then sees initial focus swing back to the Krw1155-65 region.
RES 4: Krw1165.2 – High June 18
RES 3: Krw1158.1 – High July 12
RES 2: Krw1154.6 – Ichimoku cloud base
RES 1: Krw1141.6 – 200 day moving average
LATEST PRICE: 1125.3
SUP 1: Krw1124.8 – Low Aug 9
SUP 2: Krw1122.3 – 100 week moving average
SUP 3: Krw1112.8 – 2012 Low Mar 2
SUP 4: Krw1092.5 – Low Sept 14
USD/SGD: Focus remains on lower levels. The pair is little changed from yesterdays NY opening levels with above layers of resistance in the Sgd1.2514-38 region needed to ease the pressure on lower levels. The double daily bottom around Sgd1.2400 remains in play (stops below) with focus remaining on retests of the 2012 lows for now, despite the oversold daily tech studies.
RES 4: Sgd1.2644 – High July 25
RES 3: Sgd1.2617 – 100 day moving average
RES 2: Sgd1.2538 – Hourly resistance July 27
RES 1: Sgd1.2514 – High Aug 2
LATEST PRICE: 1.2446
SUP 1: Sgd1.2400 – Low Aug 6
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