AUD/USD remains little changed from yesterday’s NY closing level after having again failing to take out the $0.9312 resistance level we continue to mention. We continue to look for a close back above the $0.9312 level to relieve the immediate bearish focus while a close back above the $0.9920 level is needed to see focus turn to higher levels and away from our current $0.8771 target.
R 4: $0.9665 – High June 6
R 3: $0.9548 – High June 19
R 2: $0.9494 – 21 day moving average
R 1: $0.9312 – High June 20
Latest price: 0.9250
S 1: $0.9151 – 2013 low June 24 2013
S 2: $0.9056 – Low Sept 2 2010
S 3: $0.8771 – Low Aug 25 2010
S 4: $0.8634 – Low July 19 2010
NZD/USD closed below the 200-WMA last week for the first time since July 2010 and has this week managed to spike back above but continues to record a daily close back above this level. We continue to look for a close back above the June 20 high to relieve the immediate bearish focus but a weekly close back above the 200-WMA would also ease the immediate bearish focus.
R 4: $0.8154 – High May 29
R 3: $0.7950 – 21 day moving average
R 2: $0.7897 – High June 20
R 1: $0.7775 – 200 week moving average
Latest price: 0.7730
S 1: $0.7685 – 2013 low June 21
S 2: $0.7621 – Low June 8 2012
S 3: $0.7461 – 2012 low May 23
S 4: $0.7373 – Monthly low Nov 25 2011
AUD/JPY remains relatively lacklustre as the focus remains on the dollar as opposed to Yen crosses. A Jpy88.82-92.54 range is likely to continue into the end of the week. Topside the pair needs to close back above the June 14 Jpy92.54 high, with the 200-DMA noted just below (Jpy92.24), to relieve the immediate bearish pressure. Overall a close back above the Jpy97.00 level is needed to shift focus back to 2013 highs.
R 4: Jpy96.02 – Previous daily sup now res
R 3: Jpy94.66 – High June 6
R 2: Jpy93.79 – High June 10
R 1: Jpy92.54 – High June 14
Latest price: 90.80
S 1: Jpy88.82 – Low Dec 31 2012
S 2: Jpy87.55 – Low Dec 21 2012
S 3: Jpy86.93 – 21 day lower Bollinger band
S 4: Jpy85.27 – Low Nov 28 2012
USD/KRW has pulled back a little from the fresh 2013 and 12 month highs set to start the new week but remains supported ahead of the Krw1147.2 level that previously capped. The pair needs to close back below this level to relieve the immediate bullish focus that is currently targeting an extension higher that tests the 2012 and 2011 highs.
R 4: Krw1207.8 – 2011 high Oct 4
R 3: Krw1186.7 – 2012 high June 4
R 2: Krw1176.2 – High June 8 2012
R 1: Krw1166.0 – 2013 high June 24
Latest price: 1154.2
S 1: Krw1147.2 – Previous daily resistance now support
S 2: Krw1138.1 – Previous daily resistance now support
S 3: Krw1133.4 – 21 day moving average
S 4: Krw1119.2 – Low June 10
USD/SGD has closed below the previous initial support with the bearish pressure easing a little as a result. Support is expected ahead of the Sgd1.2637 level today and stops are expected below. A close below Sgd1.2637 would see the immediate focus shift lower to retests of the Sgd1.2482 level with the 100-DMA noted just below at Sgd1.2460.
R 4: Sgd1.2933 – 200 week moving average
R 3: Sgd1.2847 – High June 25 2012
R 2: Sgd1.2814 – 2013 high June 24
R 1: Sgd1.2715 – Hourly resistance June 25
Latest price: 1.2691
S 1: Sgd1.2637 – Previous daily res now sup
S 2: Sgd1.2482 – Low June 13
S 3: Sgd1.2460 – 100 day moving average
S 4: Sgd1.2407 – Low June 7