AUD/USD: The pair dipped to fresh 2013 lows and the lowest level since Oct 2011 overnight with the overall focus now firmly on a retest of the 2011 low at $0.9397. Immediate focus has shifted to a test of the $0.9488 support with a close above yesterday’s high needed to relieve the current bearish pressure. We will continue to look for a close back above the $0.9791 level, with the 21-DMA noted just below, to see focus shift higher to the $1.0025-96 region.
R 4: $0.9918 – High May 15
R 3: $0.9838 – High May 21
R 2: $0.9791 – High June 3
R 1: $0.9656 – High June 5
Latest price: 0.9535
S 1: $0.9513 – 2013 low June 5
S 2: $0.9488 – Low Oct 5 2011
S 3: $0.9442 – 21 day lower Bollinger band
S 4: $0.9397 – 2011 Low Oct 4
NZD/USD: The $0.8154-0.8211 resistance region remains key for the NZD, with the 21-DMA noted just below at $0.8143, and a close above needed to remove the overall focus from a test of the 200-WMA. Following yesterday’s dip to fresh 2013 lows and the lowest level since Sept 2012, we will now look for a close above the $0.8059 level to remove the immediate bearish focus targeting a test of the $0.7917 and then $0.7813 supports.
R 4: $0.8211 – High May 21
R 3: $0.8154 – High May 29
R 2: $0.8143 – 21 day moving average
R 1: $0.8059 – High June 5
Latest price: 0.7968
S 1: $0.7929 – 2013 low June 5
S 2: $0.7917 – Low Sept 5 2012
S 3: $0.7813 – Low July 25 2012
S 4: $0.7761 – 200 week moving average
AUD/JPY: After hovering above the Jpy96.00 level the past few days, the AUD has finally broken lower and continues to work its way towards the falling daily channel base with the 200-DMA fast approaching from below. A close below the 200-DMA would place significant bearish pressure on the pair with a close below not seen since Oct 2012 and would see us looking to target a move
back to the Jpy85.00-30 region.
R 4: Jpy99.48 – High May 24
R 3: Jpy99.13 – 21 day moving average
R 2: Jpy97.93 – High May 30
R 1: Jpy96.02 – Previous daily support now resistance
Latest price: 94.45
S 1: Jpy93.38 – Falling daily channel base
S 2: Jpy92.50 – Low Jan 16
S 3: Jpy91.55 – 200 day moving average
S 4: Jpy91.13 – Low Jan 3
USD/KRW: The cross continues to remain heavy, dipping below the 21-DMA for the first time in three weeks, and now needs to close back above yesterday’s high to relieve the immediate bearish focus, while back above the May 29 high remains needed to shift focus back to the 2013 high. Layers of support remain in the Krw1096.1-1110.5 region with a close below needed to see focus ratchet lower to the Krw1077-81 region.
R 4: Krw1147.2 – 2013 high Apr 8
R 3: Krw1140.8 – 21 day upper Bollinger band
R 2: Krw1137.1 – High May 29
R 1: Krw1125.4 – High June 5
Latest price: 1121.4
S 1: Krw1118.6 – 21 day moving average
S 2: Krw1110.5 – Low May 21
S 3: Krw1105.0 – Previous daily resistance now support
S 4: Krw1099.3 – 200 day moving average
USD/SGD: The pair continued its move lower yesterday as it pulled up just short of the 61.8% Fibonacci retracement of the Sgd1.2268-1.2699 move and now needs to close back above the Sgd1.2670 resistance level to relieve the immediate bearish pressure and see focus return to the 2013 high. Layers of support remain in the Sgd1.2421-42 region with a close below needed to see the focus turn to retests of the 200-DMA and the rising 21 day lower Bollinger band.
R 4: Sgd1.2728 – High July 12-13 2012
R 3: Sgd1.2637 – High June 3
R 2: Sgd1.2670 – Previous daily support now resistance
R 1: Sgd1.2556 – High June 5
Latest price: 1.2495
S 1: Sgd1.2442 – 61.8% retracement of 1.2268-1.2699 move
S 2: Sgd1.2422 – 100 day moving average
S 3: Sgd1.2359 – Previous daily resistance now support
S 4: Sgd1.2337 – 200 day moving average