AUD/USD: The pair is distancing itself a little from the key $0.9665 resistance level after having failed at attempts higher to start the week. We will continue to look for a close above the June 6 high to relieve the immediate bearish focus with the pair currently targeting a test of the Aug 2010 monthly low at $0.8771. Overall the pair needs to close back above the $0.9838 resistance level to see focus shift back to $1.0112.
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: 0.9480
S 1: $0.9433 – Low June 13
S 2: $0.9328 – 2013 Low June 11
S 3: $0.9290 – Low Sept 13 2010
S 4: $0.9056 – Low Sept 2 2010
NZD/USD: The cross continues to trade sideways within the initial support and resistance parameters. Layers of resistance remain in the $0.8154-0.8317 region including previous daily highs, Fibonacci retracement levels and key daily moving averages. While the pair remains capped ahead of the $0.8154-0.8317 region immediate focus remains on the 200-WMA with the overall focus firmly on the $0.7461 2012 low.
R 4: $0.8327 – 61.8% retracement of 0.8676-0.7762
R 3: $0.8284 – 200 day moving average
R 2: $0.8211 – High May 21
R 1: $0.8154 – High May 29
Latest price: 0.7985
S 1: $0.7901 – Low June 13
S 2: $0.7772 – 200 week moving average
S 3: $0.7621 – Low June 8 2012
S 4: $0.7461 – 2012 low May 23
AUD/JPY: Immediate bearish focus remains on spikes below the sharply falling 21 day lower Bollinger band with the Jpy85.27 level our overall downside target. The pair needs to close back above the June 6 high with the 21-DMA noted just above, to relieve the current bearish focus, while back above the May 30 high is needed to shift overall focus higher and back to 2013 high.
R 4: Jpy96.02 – Daily support now resistance
R 3: Jpy94.66 – High June 6
R 2: Jpy93.79 – High June 10
R 1: Jpy92.54 – High June 14
Latest price: 90.50
S 1: Jpy88.82 – Low Dec 31 2012
S 2: Jpy88.23 – 21 day lower Bollinger band
S 3: Jpy87.55 – Low Dec 21 2012
S 4: Jpy85.27 – Low Nov 28 2012
USD/SGD: With the pair remaining confined to the initial support and resistance parameters we will look for a break of the recent range to indicate the next move. Topside a close back above Sgd1.2637 remains needed to see focus return to a retest of the 2013 high as daily tech studies slowly correct from oversold levels. The 200-DMA is also expected to provide some support on the way down.
R 4: Sgd1.2847 – High June 25 2012
R 3: Sgd1.2748 – High July 6 2012
R 2: Sgd1.2728 – High July 12-13 2012
R 1: Sgd1.2637 – High June 3
Latest price: 1.2612
S 1: Sgd1.2482 – Low June 13
S 2: Sgd1.2442 – 100 day moving average
S 3: Sgd1.2407 – Low June 7
S 4: Sgd1.2359 – Previous daily resistance now support