AUD/USD: Overall Focus Remains On 2013 Lows. The pair made fresh 6 week lows once again yesterday before finding support at the $1.0222 level and bouncing back towards the session highs to close in NY marginally lower than previous closes. We will continue to look for a close back above the Apr 19 resistance level to remove the immediate focus from lower levels, while back above the 200-DMA remains needed to see focus return to the 2013 highs.
RES 4: $1.0478 – Previous daily support now resistance
RES 3: $1.0445 – Hourly resistance Apr 15
RES 2: $1.0399 – 200 day moving average
RES 1: $1.0358 – High Apr 19
Latest price: 1.0238
SUP 1: $1.0222 – Low Mar 23
SUP 2: $1.0205 – Low Mar 11
SUP 3: $1.0117 – 2013 Low Mar 4
SUP 4: $1.0101 – Low July 12 2012
NZD/USD: 100-DMA Supports, 21-DMA Caps. The cross dipped below previous support by a couple of pips yesterday before bouncing off the 100-DMA with initial resistance now noted at the 21-DMA. Overall while the $0.8520 level caps a break below the $0.8337-63 region remains favoured with focus then turning to the 200-DMA and 2013 low below that. Topside the pair needs to close above the $0.8520 level to relieve the current bearish pressure and see the focus return to 2013 highs.
RES 4: $0.8676 – 2013 High Apr 11
RES 3: $0.8592 – 21 day upper Bollinger band
RES 2: $0.8520 – Hourly resistance Aug 15
RES 1: $0.8444 – 21 day moving average
Latest price: 0.8440
SUP 1: $0.8363 – 100 day moving average
SUP 2: $0.8337 – Low Mar 25
SUP 3: $0.8292 – Previous daily resistance now support
SUP 4: $0.8257 – 200 day moving average
AUD/JPY: Closes Just Off Session Highs. The cross bounced from the somewhat controversial low overnight to close just off session highs after dipping marginally below the 21-DMA. A close below the rising daily trend line remains needed to see overall focus return to the Jpy92.50 level. Initial support remains around the Jpy100.00 level with initial resistance remaining at the Apr 22 high. Daily tech studies are no longer overbought and well placed for another test of 2013 highs.
RES 4: Jpy105.7 – 21 day upper Bollinger band
RES 3: Jpy105.4 – 2013 high Apr 11
RES 2: Jpy103.8 – High Apr 15
RES 1: Jpy102.9 – High Apr 22
Latest price: 101.9
SUP 1: Jpy99.95 – Low Apr 18
SUP 2: Jpy98.94 – Low Apr 16
SUP 3: Jpy98.55 – Rising daily trend line
SUP 4: Jpy96.95 – Low Apr 2
USD/KRW: Continues To Pause Ahead Of Initial Resistance. Initial resistance continues cap the USD/KRW with a close above the Krw1125.5 weekly high from last week needed to see focus return to a close above the 200-WMA and the 2013 highs. While the Apr 18 high caps we continue to look for retests of the Apr 2 support and then the key Krw1101.7-1102.7 support region below. A close below this region then sees the pair targeting a deeper correction back to the Krw1077-1082 region.
RES 4: Krw1147.2 – High Apr 8
RES 3: Krw1136.4 – 200 week moving average
RES 2: Krw1133.6 – High Apr 12
RES 1: Krw1125.5 – High Apr 18
Latest price: 1119.3
SUP 1: Krw1110.9 – Low Apr 2
SUP 2: Krw1102.6 – 200 day moving average
SUP 3: Krw1101.7 – Low Mar 14
SUP 4: Krw1090.4 – 100 day moving average
USD/SGD: Fails Again At Apr 4 Highs. USD has again failed at the Apr 4 resistance level, confirming its significance. The falling 21 day upper Bollinger band comes in just above the Apr 4 resistance level today further increasing the significance of this resistance. With closes above the upper Bollinger band rare it is unlikely the pair will manage to close much above the Apr 4 highs. A close above remains needed to see focus return to the 2013 highs.
RES 4: Sgd1.2529 – 2013 High Mar 20
RES 3: Sgd1.2461 – Previous daily support now resistance
RES 2: Sgd1.2432 – 21 day upper Bollinger band
RES 1: Sgd1.2427 – High Apr 4
Latest price: 1.2412
SUP 1: Sgd1.2369 – Low Apr 22
SUP 2: Sgd1.2347 – 21 day lower Bollinger band
SUP 3: Sgd1.2309 – Previous daily resistance now support
SUP 4: Sgd1.2223 – Low Jan 11
EasyForexNews Research Team