The move lower in the AUD/USD looks set to continue with focus firmly on retests of the 2013 low and the 21 day lower Bollinger band now starting to head lower once more. A close above the $0.9100 level is needed to relieve the immediate bearish focus while a close back above the $0.9159 level is needed to shift focus higher and back to the $0.9206-0.9343 region. Daily tech studies are all heading lower and may continue to weigh on the pair.
R 4: $0.9206 – 55 day moving average
R 3: $0.9159 – Hourly resistance Aug 19
R 2: $0.9132 – 55 day moving average
R 1: $0.9100 – Hourly resistance Aug 20
Latest price: 0.8976
S 1: $0.8910 – Low Aug 6
S 2: $0.8880 – 21 day lower Bollinger band
S 3: $0.8850 – 2013 low Aug 5
S 4: $0.8771 – Low Aug 25 2010
NZD/USD: The brake back the $0.7913-33 region sees the immediate focus for the pair slip lower to target retests of the 2013 low. Below this level then sees the pair targeting 2012 and then 2011 lows respectively. Topside, initial resistance is noted ahead of the $0.7950 level and more importantly the $0.8050 level with a close above this level needed to shift focus higher once more. The Aug 6 lows remain initial support with a break lower favoured.
R 4: $0.8160 – High Aug 19
R 3: $0.8050 – Hourly support/resistance
R 2: $0.8003 – Hourly resistance Aug 20
R 1: $0.7948 – Hourly resistance Aug 21
Latest price: 0.7850
S 1: $0.7822 – Low Aug 6
S 2: $0.7733 – Low July 15
S 3: $0.7685 – Low June 24
S 4: $0.7621 – Low June 8 2012
The bounce in the AUD/NZD Wednesday has paused ahead of the key NZ$1.1490 resistance level that is seen as somewhat pivotal. While the NZ$1.1490 level continues to cap, further sideways trading within the recent NZ$1.1265-1.1490 range is expected to continue with a break of either side determining the next decent move. Above NZ$1.1490 sees the layers of resistance in the NZ$1.1610-50 region targeted.
R 4: NZ$1.1748 – High July 11
R 3: NZ$1.1640 – 55 day moving average
R 2: NZ$1.1610 – Falling daily trend line
R 1: NZ$1.1490 – Hourly resistance Aug 5
Latest price: NZ$1.1428
S 1: NZ$1.1361 – Low Aug 21
S 2: NZ$1.1265 – Low Aug 7
S 3: NZ$1.1257 – 21 day lower Bollinger band
S 4: NZ$1.1193 – 2013 low Aug 1
AUD/JPY: The sharp move lower Tuesday confirms bearish focus with potential for a continuation lower targeting the falling daily channel base but for now we target 2013 lows. The Y90.29 July 30 highs remain key resistance for aussie-yen this week with a close above needed to see focus shift back to retests of the layers of resistance in the Y91.90-93.80 region which includes previous daily highs, key moving averages and the falling daily trend line.
R 4: Y90.29 – High July 30
R 3: Y90.13 – High Aug 19
R 2: Y89.20 – Hourly resistance Aug 20
R 1: Y88.55 – Hourly resistance Aug 20
Latets price: Y87.71
S 1: Y87.64 – Low Aug 20
S 2: Y86.43 – 2013 low Aug 7
S 3: Y86.35 – 21 day lower Bollinger band
S 4: Y85.27 – Low Nov 28 2012
USD/KRW: A break below Krw1111.8 is needed to see pressure return to the more substantial support at Krw1108.3 with the 200-DMA noted not far below at Krw1103.8. Topside 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 Krw1139.5
R 4: Krw1130.1 – Daily support/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: Krw1117.9
S 1: Krw1111.8 – Low Aug 16
S 2: Krw1108.3 – Low Aug 8
S 3: Krw1105.0 – Daily resistance/support
S 4: Krw1103.8 – 200 day moving average
USD/SGD has bounced from the recent daily bottom in the Sgd1.2736-38 region and has managed a bullish NY close as the pair pauses just ahead of the 2013 high. A close below the Sgd1.2736 level is needed to relieve the immediate bullish focus while a close back below Sgd1.2695 remains needed to shift focus back to layers of support in the Sgd1.2550-65 region. Layers of resistance are noted in the Sgd1.2858-99 region.
R 4: Sgd1.2970 – High June 1 2012
R 3: Sgd1.2899 – High June 5 2012
R 2: Sgd1.2876 – 200 week moving average
R 1: Sgd1.2858 – 2013 high July 8
Latest price: Sgd1.2838
S 1: Sgd1.2736 – Low Aug 20
S 2: Sgd1.2695 – Low Aug 19
S 3: Sgd1.2690 – 21 day moving average
S 4: Sgd1.2620 – Hourly support Aug 13