AUD/USD to start the new month and quarter bouncing back towards the June 26 high. The $0.9343 resistance level remains key with a close above needed to relieve the immediate bearish focus that is initially targeting the $0.9056 low from Sept 2 2010. Overall a test of the $0.8771 Aug 25 2010 low remains favoured until the AUD/USD can manage a daily close back above the June 13 high.
R 4: $0.9665 – High June 13
R 3: $0.9548 – High June 19
R 2: $0.9420 – 21 day moving average
R 1: $0.9343 – High June 26
Latest price: 0.9240
S 1: $0.9156 – Hourly support July 1
S 2: $0.9109 – 2013 low June 28
S 3: $0.9056 – Low Sept 2 2010
S 4: $0.8771 – Low Aug 25 2010
NZD/USD with the 21-DMA coming in just above layers of initial resistance, we will look for a close above the 21-DMA to ease the immediate bearish focus that is targeting fresh 2013 lows and overall has the $0.7373-0.7461 region firmly in its sights. A close back above the $0.7897 level would see immediate focus shift higher to layers of resistance noted in the $0.8154-0.8317 region.
R 4: $0.8211 – High May 21
R 3: $0.8154 – High May 29
R 2: $0.7897 – High June 20
R 1: $0.7858 – High June 26
Latest price: 0.7820
S 1: $0.7745 – Hourly support July 1
S 2: $0.7685 – 2013 low June 21
S 3: $0.7621 – Low June 8 2012
S 4: $0.7461 – 2012 low May 23
AUD/JPY has broken higher to start the new week with the move capped by the 200-DMA so far. A close above the 200-DMA would see immediate focus shift higher to tests of the Jpy94.66 level with potential for a bigger bounce back to the 100-DMA (Jpy97.64). While the 200-DMA caps hope remains for a retest of the June monthly lows.
R 4: Jpy94.66 – High June 6
R 3: Jpy93.79 – High June 10
R 2: Jpy92.54 – High June 14
R 1: Jpy92.42 – 200 day moving average
Latest price: 92.05
S 1: Jpy90.49 – Low June 28
S 2: Jpy89.61 – Low June 25
S 3: Jpy88.82 – Low Dec 31 2012
S 4: Jpy87.55 – Low Dec 21 2012
USD/KRW has taken out the Krw1138.1 support level we previously mentioned as the sequence of lower daily highs and lows continues. Daily RSI and slow stochastic studies are correcting from overbought levels as the immediate focus turns to the next level of support noted at the Krw1125.6 June 14 low. Overall the June monthly lows are the new focus with a break lower then seeing
the May monthly low targeted.
R 4: Krw1176.2 – High June 8 2012
R 3: Krw1166.0 – 2013 high June 24
R 2: Krw1152.6 – High June 26
R 1: Krw1138.1 – Alternating daily support/resistance
Latest price: 1134.2
S 1: Krw1125.6 – Low June 14
S 2: Krw1119.2 – Low June 10
S 3: Krw1114.5 – 100 day moving average
S 4: Krw1108.4 – Monthly low June 7
USD/SGD dipped back towards the Sgd1.2622 support to start the new week as overbought daily RSI and slow stochastic studies correct lower. A close below Sgd1.2622 remains needed to see the immediate focus shift lower to retests of the Sgd1.2482 level with the 100-DMA noted just below at Sgd1.2471. While the Sgd1.2622 level supports, a glimmer of hope remains for our Sgd1.2970-00 target.
R 4: Sgd1.2847 – High June 25 2012
R 3: Sgd1.2814 – 2013 high June 24
R 2: Sgd1.2798 – 21 day upper Bollinger band
R 1: Sgd1.2704 – Hourly resistance June 27
Latest price: 1.2640
S 1: Sgd1.2622 – Low June 27
S 2: Sgd1.2482 – Low June 13
S 3: Sgd1.2471 – 100 day moving average
S 4: Sgd1.2407 – Low June 7