AUD/USD: The fresh 2013 and 3 year lows continues, with the pair having dipped below the long term falling daily channel base that comes in around $0.8871 and the 21 day lower Bollinger band ($0.8905). Layers of resistance remain in the $0.8990-10 region with a close above needed to relieve the immediate bearish focus. Overall the $0.9300-43 region remains key resistance with $0.8771 Aug 2010 monthly low targeted while it caps.
R 4: $0.9100 – Hourly resistance July 30
R 3: $0.9047 – Hourly resistance July 31
R 2: $0.9010 – Previous hourly sup now res
R 1: $0.8990 – High Aug 1
Latest price: 0.8925
S 1: $0.8848 – 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: The sharp move lower in early morning trading to start the new week paused ahead of the 2013 low. Layers of resistance remain in the $0.7914-34 region with a close above needed to shift overall focus back to retests of the $0.8105 level that capped the rally in late July. A close above $0.7934 would also confirm a break back above the 21-DMA ($0.7914) and the 55-DMA ($0.7926).
R 4: $0.8038 – High July 30
R 3: $0.8015 – High July 31
R 2: $0.7934 – High Aug 2
R 1: $0.7914 – 21 day moving average
Latest price: 0.7850
S 1: $0.7685 – 2013 low June 24
S 2: $0.7461 – 2012 low May 23 2012
S 3: $0.7373 – Monthly low Nov 25 2011
S 4: $0.7126 – 2011 low Mar 17 2011
AUD/NZD: The NZ$1.1490 level has re-emerged as initial resistance for the pair with a close above needed to shift immediate focus back to retests of the NZ$1.1713-48 region. Overall the NZ$1.1723-48 resistance region remains key with a close above needed to see the overall focus shift back to the NZ$1.2100-70 region. The break back below initial support confirms the overall focus currently on retests of the 2013 low.
R 4: NZ$1.1713 – Falling daily trend line
R 3: NZ$1.1640 – High July 22
R 2: NZ$1.1550 – 21 day moving average
R 1: NZ$1.1490 – Hourly resistance Aug 5
Latest price: 1.1365
S 1: NZ$1.1325 – Alternating hourly support/resistance
S 2: NZ$1.1267 – 21 day lower Bollinger band
S 3: NZ$1.1193 – 2013 Low Aug 1
S 4: NZ$1.1135 – Low Oct 29 2008
AUD/JPY: Bearish pressure remains on the 2013 low with a close above Jpy89.04 initial resistance needed to provide some relief and gaining traction above this level would see focus shift to the 21-DMA. Overall we continue to target the falling daily channel base which comes in around Jpy83.42. Layers of resistance remain in the Jpy92.70-93.59 region which is seen as key for a shift higher in focus, initially back to the Jpy96.00 level.
R 4: Jpy91.07 – High July 29
R 3: Jpy90.82 – 21 day moving average
R 2: Jpy90.29 – High July 30
R 1: Jpy89.04 – High July 31
Latest price: 87.67
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: Following last week’s failures ahead of key resistance in the krw1128.0-1130.1 region the pair is currently targeting an initial test of the June 7 lows at Krw1108.4 with overall focus firmly on the Krw1096-97 support region. A close above the Krw1130.1 level remains needed to end bearish aspirations and see overall focus return to tests of the 2013 high. Daily tech studies are at neutral levels and have room to move.
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: 1117.5
S 1: Krw1116.5 – Low July 31
S 2: Krw1108.4 – Low June 7
S 3: Krw1102.3 – 200 day moving average
S 4: Krw1097.1 – 61.8% Fibonacci retracement 1054.5-1166.0
USD/SGD: The close below previous initial support at Sgd1.2699 shifts the immediate focus for the pair from tests of the 2013 high to tests of the rising daily trend line and 55-DMA (Sgd1.2646). A close below then sees the layers of support in the Sgd1.2550-69 region targeted. Topside the pair needs to close above yesterday’s high to see focus shift higher once more. Daily tech studies are starting to look a little tired and are hinting at a correction.
R 4: Sgd1.2858 – 2013 high July 8
R 3: Sgd1.2788 – 21 day upper Bollinger band
R 2: Sgd1.2768 – High Aug 1
R 1: Sgd1.2737 – High Aug 5
Latest price: 1.2680
S 1: Sgd1.2663 – Low Aug 5
S 2: Sgd1.2644 – Rising daily trend line
S 3: Sgd1.2563 – 50% retracement of 1.2268-1.2858 move
S 4: Sgd1.2550 – Low June 19