AUD/USD managed marginal fresh highs to start the new week before dipping back towards the 21-DMA. We will look for a close back below the Aug 9 low to hint at a retest of the 2013 lows. While the Aug 9 low supports we will continue to target a move higher that retests the key $0.9315-43 resistance region that capped attempts higher in July. A close above this region then sees the $0.9665 June 6 high targeted.
R 4: $0.9315 – High July 24
R 3: $0.9274 – 55 day moving average
R 2: $0.9221 – High Aug 12
R 1: $0.9157 – Hourly resistance Aug 12
Latest price: 0.9126
S 1: $0.9124 – 21 day moving average
S 2: $0.9086 – Low Aug 9
S 3: $0.8970 – Low Aug 8
S 4: $0.8880 – 21 day lower Bollinger band
NZD/USD: Initial resistance is now noted at the $0.8011 level that capped in afternoon NY trading as the pair heads lower following a bearish NY close. Back below the Aug 9 low remains needed to delay hopes of a retest of the recent highs, while back below the $0.7918 hourly support is needed to confirm a break of the 21-DMA and see focus return to the $0.7685-0.7730 region.
R 4: $0.8124 – 100 day moving average
R 3: $0.8105 – Monthly high July 25
R 2: $0.8064 – 38.2% Fibonacci retracement $0.8676-0.7685
R 1: $0.8011 – Hourly resistance Aug 12
Latest price: 0.7978
S 1: $0.7951 – 21 day moving average
S 2: $0.7933 – Low Aug 9
S 3: $0.7918 – Previous hourly resistance now support
S 4: $0.7887 – Low Aug 7
AUD/NZD: is hesitating ahead of the somewhat pivotal NZ$1.1490 level with the 21-DMA just below. A close above NZ$1.1490 remains needed to see immediate focus turn to the July 22 high and overall focus to tests of the NZ$1.1748 level. While NZ$1.1490 continues to cap, potential remains for retests of the 2013 low. Layers of resistance remain in the NZ$1.1640-1.1748 region including the 55-DMA and falling daily trend line.
R 4: NZ$1.1640 – High July 22
R 3: NZ$1.1541 – Previous daily sup now res
R 2: NZ$1.1490 – Hourly resistance Aug 5
R 1: NZ$1.1477 – 21 day moving average
Latest price: 1.1431
S 1: NZ$1.1364 – Low Aug 9
S 2: NZ$1.1330 – Hourly support Aug 8
S 3: NZ$1.1265 – Low Aug 7
S 4: NZ$1.1193 – 2013 low Aug 1
AUD/JPY: Correcting oversold daily tech studies look to be slowing the move lower for the pair having bounced from ahead of the 100-WMA. A close back above the Y89.04 July 31 high remains needed to relieve the bearish pressure and see layers of resistance in the Y90.29-93.79 region come back into focus. While Y89.04 continues to cap the immediate focus remains on a move lower targeting the falling daily channel base (Y82.49).
R 4: Y91.44 – 55 day moving average
R 3: Y90.29 – High July 30
R 2: Y89.98 – 21 day moving average
R 1: Y89.04 – High July 31
Latest price: 88.70
S 1: Y87.75 – Low Aug 9
S 2: Y86.43 – Low Aug 7
S 3: Y86.31 – 100 week moving average
S 4: Y85.27 – Low Nov 28 2012
USD/KRW: Layers of resistance remain in the Krw1117.1-1130.1 region with a close above needed to see focus shift to levels in the Krw1143.3-1166.0 region. The recent move lower has found support at the 55-WMA which comes in around Krw1108.1 today with layers of support noted in the Krw1102.6-1108.3 region. A close above the 21-DMA is needed to relieve the immediate bearish with the bullish NY close suggesting a test of this level today
R 4: Krw1128.0 – High July 18
R 3: Krw1122.8 – High July 18
R 2: Krw1120.5 – Falling daily channel top
R 1: Krw1117.1 – 21 day moving average
Latest price: 1116.1
S 1: Krw1108.3 – Low Aug 8
S 2: Krw1105.0 – Alternating daily resistance/support
S 3: Krw1102.6 – 200 day moving average
S 4: Krw1097.1 – 61.8% Fibonacci retracement 1054.5-1166.0
USD/SGD paused at the 50% Fibonacci level before bouncing to a bullish NY close on the day’s high. With layers of support noted in the Sgd1.2543-63 region a bounce back towards the key Sgd1.2699 level is now favoured. A close above this level is needed to end bearish aspirations and see the immediate focus shift higher to tests of the Aug 1 high and overall focus to tests of the 2013 high with the 200-WMA noted just above at Sgd1.2881.
R 4: Sgd1.2768 – High Aug 1
R 3: Sgd1.2737 – High Aug 5
R 2: Sgd1.2699 – Previous daily sup now res
R 1: Sgd1.2655 – 21 day moving average
Latest price: 1.2629
S 1: Sgd1.2563 – 50% retracement of 1.2268-1.2858 move
S 2: Sgd1.2550 – Low June 19
S 3: Sgd1.2543 – 100 day moving average
S 4: Sgd1.2482 – Low June 13