AUD/USD: The $0.9111 level that capped late in NY on Tuesday and in Asian trading Wednesday is now seen as pivotal hourly support. A close above Wednesday’s high remains needed to relieve the immediate bearish focus with a close above the $0.9221 Aug 12 high needed to see focus return to retests of the key $0.9315-43 region. While The $0.9221 level caps a break below the $0.9074 remains favoured with the focus then shifting to retests of 2013 lows.
R 4: $0.9315 – High July 24
R 3: $0.9256 – 55 day moving average
R 2: $0.9221 – High Aug 12
R 1: $0.9160 – High Aug 14
Latest price: 0.9125
S 1: $0.9111 – Hourly support
S 2: $0.9074 – Low Aug 13
S 3: $0.8970 – Low Aug 8
S 4: $0.8881 – 21 day lower Bollinger band
The move higher in the NZD/USD has again paused ahead of the recent daily highs and the 38.2% Fibonacci retracement of the $0.8676-0.7685 move. A close above $0.8064 is needed to see immediate focus turn to retests of the $0.8105 level but with layers of resistance noted above including previous daily highs, key daily and weekly moving averages and a 50% Fibo level, a continuation higher will be tough going. Lower levels remain favoured.
R 4: $0.8117 – 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: $0.8056 – High Aug 12
Latest price: 0.8035
S 1: $0.8013 – Hourly support Aug 14
S 2: $0.7933 – Low Aug 9 & 13
S 3: $0.7918 – Hourly support
S 4: $0.7887 – Low Aug 7
AUD/NZD continues to hesitate ahead of the 21-DMA and we continue to look for a close above the somewhat pivotal NZ$1.1490 resistance for confirmation of a break of the 21-DMA and a shift higher in focus to the layers of resistance in the NZ$1.1640-1.1748 region. While NZ$1.1490 continues to cap, potential remains for a retest of the relatively flat 21 day lower Bollinger band and then the 2013 lows beneath.
R 4: NZ$1.1541 – Daily resistance
R 3: NZ$1.1490 – Hourly resistance Aug 5
R 2: NZ$1.1449 – 21 day moving average
R 1: NZ$1.1398 – Hourly resistance Aug 14
Latest price: 1.1349
S 1: NZ$1.1330 – Hourly support Aug 8
S 2: NZ$1.1265 – Low Aug 7
S 3: NZ$1.1220 – 21 day lower Bollinger band
S 4: NZ$1.1193 – 2013 low Aug 1
AUD/JPY recovery from 2013 lows has paused at the 21-DMA but continues to remain supported above the Y89.04 level that previously capped. While this support remains in play higher levels remain favoured, supported by correcting oversold daily tech studies. Layers of resistance remain in the Y90.29-93.80 region including previous daily highs, key moving averages and the falling daily trend line.
R 4: Y91.27 – 55 day moving average
R 3: Y91.07 – High July 29
R 2: Y90.29 – High July 30
R 1: Y89.82 – 21 day moving average
Latest price: 89.42
S 1: Y89.04 – Daily support
S 2: Y87.75 – Low Aug 9
S 3: Y86.43 – 2013 low Aug 7
S 4: Y86.32 – 100 week moving average
USD/KRW: The recovery from the Krw1108.3 level continues with the pair having entered the Krw1117.1-1130.1 resistance region. The pair has taken out the falling daily channel top and continues to close above the 21-DMA as daily tech studies correct higher. The Krw1130.1 level remains key with a close above needed to see initial focus shift to tests of the Krw1143.3 July 10 high with the Ichimoku cloud top noted just below at Krw1140.6.
R 4: Krw1130.1 – Daily resistance
R 3: Krw1128.0 – High July 18
R 2: Krw1124.0 – Ichimoku cloud base
R 1: Krw1123.0 – 100 day moving average
Latest price: 1118.5
S 1: Krw1113.5 – Low Aug 14
S 2: Krw1108.3 – Low Aug 8
S 3: Krw1105.0 – Alternating daily resistance/support
S 4: Krw1103.1 – 200 day moving average
USD/SGD continues to bounce from ahead of the 50% Fibo level and having taken out the Sgd1.2699 level overnight the immediate focus has shifted higher to the Aug 1 highs at Sgd1.2768. Overall focus has now returned to retests of the 2013 high with a close back below the 21-DMA needed to negate this view and see layers of support in the Sgd1.2548-63 region targeted once more. Correcting oversold daily techs are seen as supportive.
R 4: Sgd1.2858 – 2013 high July 8
R 3: Sgd1.2768 – High Aug 1
R 2: Sgd1.2752 – 21 day upper Bollinger band
R 1: Sgd1.2721 – High Aug 14
Latest price: 1.2692
S 1: Sgd1.2663 – 21 day moving average
S 2: Sgd1.2620 – Hourly support Aug 13
S 3: Sgd1.2563 – 50% retracement of 1.2268-1.2858 move
S 4: Sgd1.2550 – Low June 19