AUD/USD: $1.0358-99 Region Remains Key Resistance. The $1.0358-99 region remains key resistance for the AUD/USD with the pair closing on the cusp of this region yesterday. Layers of resistance remain above including the Ichimoku cloud top ($1.0358), 21-DMA($1.0379), and 100 & 200-DMA’s (both around $1.0398). While this region caps overall focus remains on retests of the 2013 lows, whereas a break above is needed to see the 2013 highs targeted once more.
RES 4: $1.0582 – Monthly high Apr
RES 3: $1.0478 – Previous daily support now resistance
RES 2: $1.0445 – Hourly resistance Apr 15
RES 1: $1.0398 – 200 day moving average
Latest price: 1.0354
SUP 1: $1.0264 – Low Apr 29
SUP 2: $1.0222 – Low Apr 23
SUP 3: $1.0205 – Low Mar 11
SUP 4: $1.0117 – 2013 Low Mar 4
NZD/USD: Focus Returns To 2013 High. The pair bounced sharply from the Apr 25 lows and 21-DMA to start the week, with focus now turning to spikes above the rising 21 day upper Bollinger band and then the 2013 highs above. The 0.8470 level now remains key for the move higher with a close below needed to relieve the current bullish focus and see attention return to the 100-DMA.
RES 4: $0.8840 – 2011 High Aug 1
RES 3: $0.8676 – 2013 High Apr 11
RES 2: $0.8643 – High Apr 12
RES 1: $0.8607 – 21 day upper Bollinger band
Latest price: 0.8563
SUP 1: $0.8470 – Low Apr 25
SUP 2: $0.8368 – 100 day moving average
SUP 3: $0.8337 – Low Mar 25
SUP 4: $0.8292 – Previous daily resistance now support
AUD/JPY: Rising Daily Trend Line Remains Key Support. The cross continues to hesitate ahead of the Apr 18 low. The rising daily trend line remains around the same level as the Apr 16 low with stops expected below. A close below the rising daily trend line that has been in place since early Nov is needed to see overall focus return to the Jpy92.50 level. While the trend line remains in place the possibility of a bounce back to the Apr 22 highs exists.
RES 4: Jpy105.4 – 2013 high Apr 11
RES 3: Jpy103.8 – High Apr 15
RES 2: Jpy102.9 – High Apr 22
RES 1: Jpy101.5 – 21 day moving average
Latest price: 101.18
SUP 1: Jpy99.95 – Low Apr 18
SUP 2: Jpy98.95 – Rising daily trend line
SUP 3: Jpy96.95 – Low Apr 2
SUP 4: Jpy95.77 – 100 day moving average
USD/KRW: Stops Below Key Support Targeted Today. USD is fast approaching the Krw1101.7-1102.0 support region with the 200-DMA noted at Krw1102.0. A close below the 200-DMA would be the first since early March and add weight to the bearish case that will then be targeting a test of the 1077-1082 support region. We will look for a close above yesterday’s high to relieve the immediate bearish pressure, but back above the Apr 18 high is needed to see focus return to 2013 highs.
RES 4: Krw1135.6 – 200 week moving average
RES 3: Krw1133.6 – High Apr 12
RES 2: Krw1125.5 – High Apr 18
RES 1: Krw1110.1 – High Apr 29
Latest price: 1103.6
SUP 1: Krw1102.0 – 200 day moving average
SUP 2: Krw1101.7 – Low Mar 14
SUP 3: Krw1094.1 – Low Mar 12
SUP 4: Krw1091.6 – 100 day moving average
USD/SGD: Today’s Focus On Sgd1.2309 Support. USD dipped below the 200-DMA to start the week before closing a couple of pips above. The key Sgd1.2309 support is just below with a test of this level expected while the Apr 26 highs cap. Overall while the Apr 24 high caps we will look for a continuation lower that targets the Sgd1.2198-24 region. The lower 21 Bollinger band (Sgd1.2339) is heading down once more with spikes below expected to continue although closes below are a rarity.
RES 4: Sgd1.2529 – 2013 High Mar 20
RES 3: Sgd1.2461 – Previous daily support now resistance
RES 2: Sgd1.2436 – High Apr 24
RES 1: Sgd1.2391 – High Apr 26
Latest price: 1.2338
SUP 1: Sgd1.2309 – Previous daily resistance now support
SUP 2: Sgd1.2224 – Low Jan 10
SUP 3: Sgd1.2198 – 2013 low Jan 2
SUP 4: Sgd1.2169 – Low Dec 18 2012
EasyForexNews Research Team