AUD/USD: Fresh 6 week lows. Fresh 6 week lows for the AUD/USD with the 100 day ma taken out and chopping around the falling 21 day lower Bollinger band ($1.0192) expected to continue. The July monthly lows and 50% Fibo level both coming in around $1.0100 are now the initial focus with back above the Aug 30 highs still needed to herald a shift higher in focus.
RES 4: $1.0544 – High Aug 23
RES 3: $1.0444 – High Aug 24
RES 2: $1.0352 – High Aug 30
RES 1: $1.0286 – High Sept 4
LATEST PRICE: $1.0195
SUP 1: $1.0101 – 50% retracement of $0.9584-1.0614 move
SUP 2: $1.0046 – Ichimoku Cloud base
SUP 3: $0.9972 – Low June 25
SUP 4: $0.9823 – Low June 8
NZD/USD: Consolidates break into the Ichimoku Cloud. The pair is little changed from yesterdays NY close as it consolidates the break below the Ichimoku Cloud top ($0.7961) and continues to dip below the 100 day ma ($0.7930). Initial focus remains on tests of the July monthly lows but oversold daily tech studies should be noted and will come into play at some stage.
RES 4: $0.8192 – 21 day upper Bollinger band
RES 3: $0.8088 – High Aug 27
RES 2: $0.8057 – High Aug 29
RES 1: $0.7996 – High Sept 4
LATEST PRICE: $0.7953
SUP 1: $0.7917 – Low Sept 5
SUP 2: $0.7813 – Monthly low July 25
SUP 3: $0.7785 – Ichimoku cloud base
SUP 4: $0.7621 – Low June 8
AUD/JPY: July monthly lows fast approaching. The pair continues to chop around the falling 21 day lower Bollinger band (Y79.89) as it continues to head towards the Ichimoku Cloud base. July monthly lows lay just beneath and are the initial focus with stops expected below the Y79.33 June 25 lows. Topside the above the Aug 30 hourly resistance is needed to shift focus higher.
RES 4: Y83.56 – Monthly high Aug 21
RES 3: Y82.12 – High Aug 24
RES 2: Y81.33 – Hourly resistance Aug 30
RES 1: Jpy80.75 – Previous hourly support now resistance
LATEST PRICE: Y79.91
SUP 1: Y79.56 – Monthly low July 25
SUP 2: Y79.33 – Low June 25
SUP 3: Y78.44 – Ichimoku cloud base
SUP 4: Y77.73 – Low June 8
USD/KRW: Trades briefly at 6 week highs. Finally some movement in USD/KRW as the pair spiked to fresh 6 week highs, taking out small stops in the process. A close above previous highs would have been ideal and we now look to a close above the 200 day ma for signs that a move higher may be underway. For now more trading within a Krw1125-1140 range is expected.
RES 4: Krw1165.1 – High June 28
RES 3: Krw1158.1 – High July 12
RES 2: Krw1146.4 – Ichimoku cloud base
RES 1: Krw1141.3 – 200 day moving average
LATEST PRICE: Krw1135.85
SUP 1: Krw1124.8 – Low Aug 9
SUP 2: Krw1122.1 – 100 week moving average
SUP 3: Krw1112.8 – 2012 Low Mar 2
SUP 4: Krw1092.5 – Low Sept 14
USD/SGD: Choppy sideways trading to remain. As the Bollinger bands continue to narrow USD/SGD is starting to look likely to remain confined to the recent Sgd1.2400-1.2556 range with choppy sideways trading likely for the time being. Daily tech studies are now back at more neutral levels and supportive of further range trading with a break of either side needed to inject fresh life into the pair.
RES 4: Sgd1.2644 – High July 25
RES 3: Sgd1.2604 – 100 day moving average
RES 2: Sgd1.2556 – High Aug 28
RES 1: Sgd1.2507 – High Sept 3
LATEST PRICE: Sgd1.2475
SUP 1: Sgd1.2433 – Low Aug 23
SUP 2: Sgd1.2428 – 21 day lower Bollinger band
SUP 3: Sgd1.2400 – Monthly low Aug 6
SUP 4: Sgd1.2349 – 2012 Low April 30
EasyForexNews Research Team