AUD/USD has traded at fresh 2013 lows as it dipped towards the falling 21 day lower Bollinger band overnight. Initial resistance remains at the $0.9250 level but with the 21-DMA now just above the $0.9343 resistance level we will look for a close above the 21-DMA to relieve the immediate bearish pressure and see focus shift to a bigger bounce targeting the $0.9665 resistance level. For now our overall target remains the $0.8771 Aug 25 2010 low.
R 4: $0.9548 – High June 19
R 3: $0.9363 – 21 day moving average
R 2: $0.9343 – High June 26
R 1: $0.9250 – High July 2
Latest price: 0.9075
S 1: $0.9046 – 2013 low July 3
S 2: $0.9029 – 21 day lower Bollinger band
S 3: $0.8771 – Low Aug 25 2010
S 4: $0.8634 – Low July 19 2010
NZD/USD has remained confined to a $0.7685-0.7858 range since mid-June. With the 21-DMA coming in at $0.7872 today we will look for a close above to relieve the immediate bearish focus that is targeting a break of the $0.7685 support and a continuation lower that tests the $0.7373-0.7461 region. Any decent topside correction is likely to be tough going given layers of resistance in the $0.8154-0.8317 region.
R 4: $0.8154 – High May 29
R 3: $0.7897 – High June 20
R 2: $0.7872 – 21 day moving average
R 1: $0.7858 – High June 26
Latest price: 0.7765
S 1: $0.7685 – 2013 low June 21
S 2: $0.7643 – 21 day lower Bollinger band
S 3: $0.7621 – Low June 8 2012
S 4: $0.7461 – 2012 low May 23
AUD/JPY traded at fresh 3 week highs yesterday but could not take out the 200-DMA or the June 14 high and has headed lower once more. A close above the Jpy92.52-54 region remains needed to relieve the current bearish focus with retests of the 2013 low favoured. A break below this level then sees the pair targeting the Jpy85.27 Low from early Dec 2012. A close above Jpy92.54 sees
immediate focus shift to the June 6 high.
R 4: Jpy96.02 – Previous daily support now resistance
R 3: Jpy94.66 – High June 6
R 2: Jpy93.79 – High June 10
R 1: Jpy92.52 – 200 day moving average
Latest price: 90.80
S 1: Jpy89.61 – Low June 25
S 2: Jpy88.82 – Low Dec 31 2012
S 3: Jpy88.62 – 21 day lower Bollinger band
S 4: Jpy87.55 – Low Dec 21 2012
USD/KRW has ended its run of lower daily highs and lows as it bounced back towards the June 26 high. We need to see a close back above this level to risk a continuation higher that tests the flat 21 day upper Bollinger band and the 2013 high, but for now we continue to expect to see the pair trade sideways within a Krw1130.1-1152.6 range into the end of the week. A close below the initial support sees the pair targeting the Krw1108.4 support.
R 4: Krw1176.2 – High June 8 2012
R 3: Krw1166.0 – 2013 high June 24
R 2: Krw1163.3 – 21 day upper Bollinger band
R 1: Krw1152.6 – High June 26
Lstest price: 1141.2
S 1: Krw1130.1 – Low July 2
S 2: Krw1125.6 – Low June 14
S 3: Krw1119.2 – Low June 10
S 4: Krw1115.5 – 100 day moving average
USD/SGD has again bounced from a dip with a test and break above the 2013 high remaining favoured until we see a close back below the June 27 low. A close below Sgd1.2622 sees immediate focus shift to tests of the June 13 low whereas a close above the Sgd1.2814 level sees the pair on track to test the targeted Sgd1.2970-00 region with the 200-WMA now noted at Sgd1.2924 and worth watching.
R 4: Sgd1.2924 – 200 week moving average
R 3: Sgd1.2847 – High June 25 2012
R 2: Sgd1.2821 – 21 day upper Bollinger band
R 1: Sgd1.2814 – 2013 high June 24
Latest price: 1.2731
S 1: Sgd1.2622 – Low June 27
S 2: Sgd1.2482 – Low June 13
S 3: Sgd1.2478 – 100 day moving average
S 4: Sgd1.2407 – Low June 7