AUD/USD put in fresh 2 week highs once again overnight, this time spiking above the 21-DMA. The most recent attempt higher has lacked follow through and failed to take out the key $0.9343 resistance level, pulling back from the day’s highs to be little changed from yesterday’s NY close. While the $0.9343 level continues to cap we will look for lower levels with spikes below the lower 21 day Bollinger band remaining favoured.
R 4: $0.9631 – 38.2% Retracement of 1.0582-0.9043 move
R 3: $0.9579 – 21 day upper Bollinger band
R 2: $0.9343 – High June 26
R 1: $0.9263 – 21 day moving average
Latest price: 0.9175
S 1: $0.9089 – Low July 9
S 2: $0.9043 – 2013 low July 8
S 3: $0.8946 – 21 day lower Bollinger band
S 4: $0.8771 – Low Aug 25 2010
NZD/USD with the pair ending in NY little changed from its previous close. Stops were taken out above the $0.7897 resistance level but the attempt higher as so far lacked follow through. As such we will now look for a close above yesterday’s high to signal a shift higher in focus back to the $0.8154 level. While The $0.7967 level caps we will look for lower levels.
R 4: $0.8197 – 100 day moving average
R 3: $0.8154 – High May 29
R 2: $0.8052 – High June 19
R 1: $0.7967 – High July 11
Latest price: 0.7845
S 1: $0.7769 – Low July 9
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 corrected sharply lower and back towards the Jpy88.82 support level. While the Jpy93.02 resistance remains in play we will look for a test and eventual break of the Jpy88.82 support level and a continuation lower that sees the Jpy85.27 support as the overall target. Above Jpy93.02 sees focus turn to the Jpy96.02 level.
R 4: Jpy94.66 – High June 6
R 3: Jpy93.79 – High June 10
R 2: Jpy93.02 – High June 9
R 1: Jpy92.00 – High July 11
Latest price: 90.79
S 1: Jpy90.18 – Low July 3
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 broke the Krw1130.1 support in spectacular fashion yesterday and this level now becomes the initial resistance level. The pair has paused above the 100-DMA for now but while the pairs remains capped by the 21-DMA a continuation lower that tests the 200-DMA is now favoured. Below the 200-DMA then sees the May monthly lows retested.
R 4: Krw1163.0 – 21 day upper Bollinger band
R 3: Krw1153.2 – High July 5
R 2: Krw1141.7 – 21 day moving average
R 1: Krw1130.1 – Previous daily support now resistance
Latest price: 1122.1
S 1: Krw1119.2 – Low June 10
S 2: Krw1110.2 – 50% Fibonacci retracement 1054.5-1166.0
S 3: Krw1108.4 – Low June 7
S 4: Krw1101.3 – 200 day moving average
USD/SGD has continued its recent pattern of lower daily highs and lows in dramatic fashion with the pair following up yesterday’s bearish NY close with a sharp move to fresh 3 weeks and another bearish close. The immediate focus has now shifted back to the 100 and then 200-DMA’s with a close back above yesterday’s high now needed to negate this view.
R 4: Sgd1.2970 – High 1 June 2012
R 3: Sgd1.2917 – 200 week moving average
R 2: Sgd1.2858 – 2013 high July 8
R 1: Sgd1.2721 – High July 11
Latest price: 1.2589
S 1: Sgd1.2550- Low June 19
S 2: Sgd1.2499 – 100 day moving average
S 3: Sgd1.2407 – Low June 7
S 4: Sgd1.2380 – 200 day moving average