AUD/USD: The pair has put in a triple daily bottom in the $1.0222-24 region and it is common for triple bottoms to break. The falling daily trend line comes in just below the 21-DMA and as such we will look for a close above the 21-DMA to relieve the immediate bearish focus and see the $1.0382-96 region come back into the picture. Above $1.0396 is needed to shift overall focus back to the 2013 highs and away from the 2013 lows which are currently targeted.
R 4: $1.0478 – Previous daily support now resistance
R 3: $1.0395 – 200 day moving average
R 2: $1.0346 – 21 day moving average
R 1: $1.0329 – Previous hourly support now resistance
Latest price: 1.0245
S 1: $1.0222 – Low Apr 23
S 2: $1.0205 – Low Mar 11
S 3: $1.0157 – 21 day lower Bollinger band
S 4: $1.0117 – 2013 low Mar 4
NZD/USD: The cross continues to trade sideways within initial support and resistance parameters but while the pair remains capped by the Apr 30 high a break lower remains favored that initially targets the layers of support in the $0.8337-75 region. A close below this region then sees focus turn to retests of the 2013 low. A close above the Apr 30 high remains needed to see focus return
to tests of the 2013 highs.
R 4: $0.8676 – High Apr 11
R 3: $0.8643 – High Apr 12
R 2: $0.8620 – 21 day upper Bollinger band
R 1: $0.8583 – High Apr 30
Latest price: 0.8511
S 1: $0.8460 – Low May 2
S 2: $0.8375 – 100 day moving average
S 3: $0.8337 – Low Mar 25
S 4: $0.8292 – Previous daily resistance now support
AUD/JPY: Immediate focus remains on a retest of the Apr 22 high with overall focus on the 2013 high. We will continue to look for a close below the Apr 16 low as confirmation of a break of the current up-trend and a subsequent shift lower in focus to the Jpy92.50 level. Following the dip back to the rising daily trend line, daily momentum, slow stochastic and RSI studies have worked off
their oversold condition and are supportive of another leg higher.
R 4: Jpy105.4 – 2013 high Apr 11
R 3: Jpy104.9 – 21 day upper Bollinger band
R 2: Jpy103.8 – High Apr 15
R 1: Jpy102.9 – High Apr 22
Latest price: 100.81
S 1: Jpy99.95 – Rising daily trend line
S 2: Jpy98.94 – Low Apr 16
S 3: Jpy96.95 – Low Apr 2
S 4: Jpy96.57 – 100 day moving average
USD/KRW: Fresh 7 week lows again for USD/KRW yesterday before the pair paused at the 100-DMA. While the Krw1105 level caps the immediate bearish pressure targets test of the Krw1077-1082 support region with a break lower then expected to retest the 2013 lows. For now the pair needs to close above the Apr 30 high to relieve the immediate bearish pressure with above the Apr 29 high needed to see focus turn to the Krw1125.5 level.
R 4: Krw1133.6 – High Apr 12
R 3: Krw1125.5 – High Apr 18
R 2: Krw1110.1 – High Apr 29
R 1: Krw1105.0 – High Apr 30
Latest price: 1094.0
S 1: Krw1092.6 – 100 day moving average
S 2: Krw1089.9 – 61.8% retracement of 1054.5-1147.2 move
S 3: Krw1088.2 – Ichimoku cloud base
S 4: Krw1081.6 – Low Feb 28
USD/SGD: The cross traded at fresh 3 month lows as it continues to work its way lower towards the falling daily channel base noted around Sgd1.2272 today. Initial resistance is now noted at the May 2 high with the 100-DMA (Sgd1.2357) also coming in around this level. Topside the pair still needs to close above the 21-DMA to relieve the immediate bearish focus while a close above the falling channel top is needed to call an end to the current down trend.
R 4: Sgd1.2406 – Falling daily channel top
R 3: Sgd1.2391 – High Apr 26
R 2: Sgd1.2368 – 21 day moving average
R 1: Sgd1.2359 – High May 2
Latest price: 1.2311
S 1: Sgd1.2272 – Falling daily channel base
S 2: Sgd1.2224 – Low Jan 10
S 3: Sgd1.2198 – 2013 low Jan 2
S 4: Sgd1.2169 – Low Dec 18 2012