AUD/USD: The pair has traded sharply lower to start the new week with the pair hovering just above the 2011 low at the time of writing. Further selling pressure is expected to emerge on a break below the $0.9397 level with the pair then targeting a continuation lower that sees the $0.8771 monthly low from Aug 25 2010 tested. There is little in the way of resistance until the June 6 high at $0.9665 with a close above needed to relieve the immediate bearish pressure.
R 4: $0.9918 – High May 15
R 3: $0.9838 – High May 21
R 2: $0.9791 – High June 3
R 1: $0.9665 – High June 6
Latest price: 0.9405
S 1: $0.9397 – 2011 Low Oct 4
S 2: $0.9290 – Low Sept 13 2010
S 3: $0.9056 – Low Sept 2 2010
S 4: $0.8771 – Monthly low Aug 25 2010
NZD/USD: The cross has dipped to just ahead of the $0.7812 support from July 25 2012 and remains heavy, with a test of the 200-WMA targeted unless the pair manages a close back above the $0.8095 resistance level. A close back above this level is needed to relieve the immediate bearish pressure with the 21-DMA noted just above this level today. Overall back above the $0.8286-0.8317 region is needed to shift focus back to 2013 highs.
R 4: $0.8211 – High May 21
R 3: $0.8154 – High May 29
R 2: $0.8101 – 21 day moving average
R 1: $0.8095 – High June 6
Latest price: 0.7830
S 1: $0.7812 – Low July 25 2012
S 2: $0.7760 – 200 week moving average
S 3: $0.7621 – Low June 8 2012
S 4: $0.7461 – 2012 low May 23
AUD/JPY: Lower levels remain the focus for the AUD/JPY currently trading just above the 200-DMA (Jpy91.67) after dipping below on Friday. The immediate focus is now on a test of the Jpy87.55 low from Dec 21 2012 with a close back above Friday’s high needed to relieve the immediate bearish focus. With the 21-DMA coming in around the Jpy98.35 level today we will look for a close above to see focus return to the Jpy102.90 level.
R 4: Jpy97.93 – High May 30
R 3: Jpy96.02 – Previous daily support now resistance
R 2: Jpy94.66 – High June 6
R 1: Jpy93.24 – High June 7
Latest price: 92.00
S 1: Jpy90.62 – Low June 7
S 2: Jpy89.35 – 61.8% retracement of 79.42-105.42 move
S 3: Jpy88.82 – Low Dec 31 2012
S 4: Jpy87.55 – Low Dec 21 2012
USD/KRW: The bounce from fresh 3 week lows on Friday is a concern USD bears but we will continue to look for a close above the Krw1125.4 level today to shift the immediate focus to tests of the May 29 high and overall focus back to the 2013 highs. Layers of support remain in the Krw1095-1105 region including the 100 and 200-DMA’s and this may prove tough going for the pair on initial tests, with a break lower then targeting the Krw1077-81 support region.
R 4: Krw1147.2 – 2013 high Apr 8
R 3: Krw1137.1 – Monthly high May 29
R 2: Krw1134.1 – 21 day upper Bollinger band
R 1: Krw1125.4 – High June 5
Latest price: 1123.5
S 1: Krw1108.4 – Low June 7
S 2: Krw1105.0 – Previous daily resistance now support
S 3: Krw1099.1 – 200 day moving average
S 4: Krw1082.1 – Monthly low May 8
USD/SGD: The pair has begun the new week back above the Sgd1.2500 level after dipping below the 100-DMA and Ichimoku cloud top on Friday. A close back above the Sgd1.2550-70 region with the 21-DMA noted at Sgd1.2550, is needed to relieve the immediate bearish focus and see attention return once more to the 2013 high. Overall, while the Sgd1.2550-70 region caps the potential remains for a test of the 200-DMA.
R 4: Sgd1.2728 – High July 12-13 2012
R 3: Sgd1.2637 – High June 3
R 2: Sgd1.2570 – Previous daily support now resistance
R 1: Sgd1.2556 – High June 5
Latest price: 1.2505
S 1: Sgd1.2407 – Low June 7
S 2: Sgd1.2375 – Ichimoku cloud base
S 3: Sgd1.2359 – Previous daily resistance now support
S 4: Sgd1.2337 – 200 day moving average