AUD/USD is little changed from Friday’s opening level but continues to remain bearish with the $0.8771 Aug 2010 monthly lows remaining targeted. Layers of resistance on the hourly timeframe remain in the $0.8990-10 region with a close above needed to relieve the immediate bearish focus. The pair is currently pausing above the long term falling daily channel base but is expected to continue its spikes below the 21-day lower Bollinger band.
R 4: $0.9100 – Hourly resistance July 30
R 3: $0.9047 – Hourly resistance July 31
R 2: $0.9010 – Previous hourly support now resistance
R 1: $0.8990 – High Aug 1
Latest price: 0.8911
S 1: $0.8870 – 2013 Low Aug 2
S 2: $0.8771 – Monthly low Aug 25 2010
S 3: $0.8634 – Low July 19 2010
S 4: $0.8317 – Low July 1 2010
NZD/USD sharp move lower in early morning trading to start the new week paused ahead of the 2013 low. The focus had shifted lower for the pair following Thursday’s NY close back below the $0.7905 level and the pair now needs to close back above hourly resistance that capped the pair following the US NFP data on Friday to relieve the immediate bearish focus that is targeting retests of the 2013 low.
R 4: $0.8038 – High July 30
R 3: $0.8015 – High July 31
R 2: $0.7934 – High Aug 2
R 1: $0.7852 – Hourly resistance Aug 2
Latest price: 0.7775
SUP 1: $0.7685 – 2013 low June 24
SUP 2: $0.7461 – 2012 low May 23 2012
SUP 3: $0.7373 – Monthly low Nov 25 2011
SUP 4: $0.7126 – 2011 low Mar 17 2011
AUD/NZD sharp move higher in early Asian trading to start the new week paused ahead of the NZ$1.1640 July 22 high. The NZ$1.1723-48 resistance region is key this week with a close above needed to see the overall focus shift back to the NZ$1.2100/70 region. While $NZ1.1748 continues to cap we will look for the pair to trade in a choppy fashion within a NZ$1.1200-1.1640 range.
R 4: NZ$1.1748 – High July 11
R 3: NZ$1.1723 – Falling daily trend line
R 2: NZ$1.1640 – High July 22
R 1: NZ$1.1610 – High Aug 5
Latest price: 1.1448
S 1: NZ$1.1395 – Previous daily res now sup
S 2: NZ$1.1325 – Alternating hourly support/resitance
S 3: NZ$1.1193 – 2013 Low Aug 1
S 4: NZ$1.1135 – Low Oct 29 2008
AUD/JPY stalled ahead of initial resistance before closing just above the day’s lows with the bearish focus once again confirmed. Initial support is noted at last week’s fresh 2013 and 7 month lows with immediate focus on a test of the Jpy85.27 low from Nov 28 2012. Overall we continue to target the falling daily channel base which comes in around Jpy83.42.
R 4: Jpy91.37 – Previous daily sup now res
R 3: Jpy91.07 – High July 29
R 2: Jpy90.29 – High July 30
R 1: Jpy89.04 – High July 31
Latest price: 88.17
S 1: Jpy87.38 – 2013 Low Aug 1
S 2: Jpy85.27 – Low Nov 28 2012
S 3: Jpy83.42 – Falling daily channel base
S 4: Jpy81.99 – Low Nov 9 2012
USD/KRW confirmed the significance of the Krw1128.0-1130.1 resistance region to end last week with the pair pulling back after failing ahead of this region. The falling daily channel top comes in at Krw1128.3 today with the overall focus on a test of the channel base around Krw1097.7 while the Krw1130.1 level caps. A close above is needed to shift overall focus to 2013 highs.
R 4: Krw1153.2 – High July 5
R 3: Krw1143.3 – High July 10
R 2: Krw1130.1 – Previous daily sup now res
R 1: Krw1128.0 – High July 18
Latest price: 1119.8
S 1: Krw1116.5 – Low July 31
S 2: Krw1108.4 – Low June 7
S 3: Krw1102.1 – 200 day moving average
S 4: Krw1097.1 – 61.8% Fibonacci retracement 1054.5-1166.0
USD/SGD pulled back from the Aug 1 high to end last week and begins the new week with the focus on a test of the key initial support noted at Sgd1.2699. A close below this level is needed to relieve the immediate bullish focus and see the rising daily trend line tested. A close below the rising daily trend line sees the immediate focus turn to the layers of support in the Sgd1.2534-69 region with the 100-DMA noted at Sgd1.2534.
R 4: Sgd1.2894 – 200 week moving average
R 3: Sgd1.2858 – 2013 high July 8
R 2: Sgd1.2808 – 21 day upper Bollinger band
R 1: Sgd1.2768 – High Aug 1
Latest price: 1.2705
S 1: Sgd1.2699 – Low July 31
S 2: Sgd1.2631 – Rising daily trend line
S 3: Sgd1.2563 – 50% retracement of 1.2268-1.2858 move
S 4: Sgd1.2550 – Low June 19