AUD/USD: Below $1.0414 Needed To Shift Focus Lower. The pair continues to make headway towards our current target in the $1.0578-98 region with initial support now noted at yesterday’s low and a close below needed to relieve the immediate bullish focus. Overall we will now look for a close back below the $1.0414 support to shift focus back to retests of the Mar 12 low and then 2013 lows below. The 21 day upper Bollinger continues to head sharply higher with tests expected to continue while $1.0448 supports.
RES 4: $1.0624 – High Sept 14
RES 3: $1.0598 – 2013 high Jan 10 & 11
RES 2: $1.0578 – Double Daily Top Jan 16 & 22
RES 1: $1.0509 – 21 day upper Bollinger band
Latest price: 1.0478
SUP 1: $1.0448 – Low Mar 26
SUP 2: $1.0414 – Previous daily resistance now support
SUP 3: $1.0346 – Low Mar 18
SUP 4: $1.0268 – Low Mar 12
NZD/USD: Marginally Trades Above 61.8% Fibonacci Level. The cross closed around the 61.8% Fibonacci retracement of the $0.8534-0.8164 move after bouncing from initial support. The $0.8416 resistance remains the next topside hurdle with the Ichimoku cloud top noted around $0.8412 today and adding significance to the region. Back below Mar 25 lows is needed to relieve the immediate bullish focus, while back below the $0.8292 level is needed to shift focus lower.
RES 4: $0.8568 – High Aug 31
RES 3: $0.8534 – 2013 high Feb 15
RES 2: $0.8489 – High Feb 19
RES 1: $0.8416 – High Feb 25
Latest price: 0.8393
SUP 1: $0.8337 – Low Mar 25
SUP 2: $0.8292 – Previous daily resistance now support
SUP 3: $0.8157 – Low Dec 26
SUP 4: $0.8125 – 100 week moving average
AUD/JPY: Jpy97.60-100.00 Range Continues To Define. The AUD/JPY continues to trade sideways within the Jpy97.60-100.00 region with the 21-DMA now noted at Jpy97.62. The Jpy100.00 level remains key resistance with a close above likely to see the pair begin to trade within a Jpy100-105 range. A close below initial support remains needed to relieve the bullish focus and see the pair target retests of the Jan 16 low. O/B daily techs continue to correct.
RES 4: Jpy104.5 – 2008 high Jul 21
RES 3: Jpy100.7 – High Aug 5 2008
RES 2: Jpy100.0 – Psychological Resistance
RES 1: Jpy99.96 – 2013 high Mar 14
Latets price: 99.02
SUP 1: Jpy97.60 – Low Mar 18
SUP 2: Jpy95.62 – Ichimoku cloud top
SUP 3: Jpy94.45 – Low Mar 1
SUP 4: Jpy92.50 – Low Jan 16
USD/KRW: Bounces Form 200-DMA. USD/KRW continues to pull back from the double daily top and layers of resistance in the Krw1120.6-1127.8 resistance region and we continue to look for a close below the Mar 14 low to shift focus back to the Krw1077-82 support region. Back below the Mar 14 lows is needed to confirm a break back below the 200-DMA with the pair having made headway and consolidated the break above earlier in the month and having bounced from this level yesterday
RES 4: Krw1136.2 – 61.8% retracement of 1186.7-1054.5 move
RES 3: Krw1128.6 – Rising daily channel top
RES 2: Krw1124.8 – Previous daily support now resistance
RES 1: Krw1120.6 – 50% retracement of 1186.7-1054.5 move
Latest price: 1107.9
SUP 1: Krw1105.0 – 200 day moving average
SUP 2: Krw1101.7 – Low Mar 14
SUP 3: Krw1094.1 – Low Mar 12
SUP 4: Krw1094.2 – Rising daily channel base
USD/SGD: Layers of Support Sgd1.2369-75. The cross continues to head towards the targeted Sgd1.2309-34 support region after break below the 21-DMA, with a close back above the 21-DMA needed to shift focus higher once more. Layers of support are noted around the Sgd1.2375 level including the lower Bolli, 200-DMA (Sgd1.2372) and the Ichimoku cloud top (Sgd1.2369) which adds significance to the region. Daily tech studies continue to correct lower and are close to more neutral levels.
RES 4: Sgd1.2631 – Rising daily channel top
RES 3: Sgd1.2556 – High Aug 28
RES 2: Sgd1.2529 – 2013 High Mar 20
RES 1: Sgd1.2459 – 21 day moving average
Latest price: 1.2408
SUP 1: Sgd1.2375 – 21 day lower Bollinger band
SUP 2: Sgd1.2334 – Low Jan 30
SUP 3: Sgd1.2309 – Previous daily resistance now support
SUP 4: Sgd1.2223 – Low Jan 11
EasyForexNews Research Team