AUD/USD managed an inside day on Thursday but continues to remain heavy following the failed attempt higher earlier in the week. We continue to look for a close above the $0.9100 level as confirmation of break of the 21-DMA and a shift in overall focus back to the key $0.9315-43 region. While the $0.9100 level caps we continue to look for dips back towards the layers of support noted in the $0.8850-0.8895 region. Below $0.8850 targets $0.8771
R 4: $0.9159 – Hourly resistance Aug 19
R 3: $0.9100 – Hourly resistance Aug 20
R 2: $0.9040 – 21 day moving average
R 1: $0.8997 – Hourly resistance Aug 27
Latest price: $0.8919
S 1: $0.8895 – Low Aug 28
S 2: $0.8860 – 21 day lower Bollinger band
S 3: $0.8855 – Falling weekly channel base
S 4: $0.8850 – 2013 low Aug 5
NZD/USD continues to fail ahead of the Ichimoku cloud base on rallies. Although daily tech studies are approaching O/S, we continue to favour a test of layers of support in the $0.7685-33 region. A close above the $0.7873 high from earlier in week is needed to relieve the immediate bearish focus while a close back above the $0.7937 level that previously supported is needed to shift focus back to layers of resistance noted in the $0.8065-0.8211 region.
R 4: $0.7937 – Daily support/resistance
R 3: $0.7794 – 55 day moving average
R 2: $0.7887 – Daily support/resistance
R 1: $0.7870 – Ichimoku cloud base
Latest price: 0.7750
S 1: $0.7733 – Low July 15
S 2: $0.7715 – 21 day lower Bollinger band
S 3: $0.7685 – 2013 Low June 24
S 4: $0.7621 – Low June 8 2012
After having failed at the falling daily trend line earlier in the week the AUD/NZD continues make lower daily highs and lows with the move lower currently focussed on a retest of NZ$1.1185-1.1265. Initial res remains at the NZ$1.1536 level with a close above needed to relieve the immediate bearish pressure. Overall a close above the NZ$1.1640 high from July 22 is needed to confirm a break of the falling daily trend line and 55-DMA.
R 4: NZ$1.1640 – High July 22
R 3: NZ$1.1591 – 55 day moving average
R 2: NZ$1.1553 – Falling daily trend line
R 1: NZ$1.1536 – Hourly resistance Aug 27
Latest price: NZ$1.1498
S 1: NZ$1.1433 – Low Aug 29
S 2: NZ$1.1412 – 21 day moving average
S 3: NZ$1.1361 – Low Aug 21
S 4: NZ$1.1265 – Low Aug 7
After pausing just ahead of the 2013 low on Wednesday AUD/JPY bounced back towards the 21-DMA. Overall the pair remains confined to a falling channel on the daily time frame that is currently targeting the channel base at Y80.64 if the channel remains true. Before the pair can test the falling daily channel base it has to negotiate the 200-WMA and then the rinsing long term weekly channel base.
R 4: Y90.13 – High Aug 19
R 3: Y89.41 – High Aug 23
R 2: Y88.50 – Hourly resistance Aug 26
R 1: Y88.39 – 21 day moving average
Latest price: Y87.60
S 1: Y87.27 – Low Aug 29
S 2: Y86.79 – 21 day lower Bollinger band
S 3: Y86.43 – 2013 low Aug 7
S 4: Y84.24 – 200 week moving average
USD/KRW: Thursday’s move lower dipped below the 21 day lower Bollinger band, pausing ahead of the Aug 8 low before bouncing a little. The Aug 8 low is expected to act as pivotal support with a close below needed to see overall focus shift lower to the Krw1081.7 May monthly low. A close above the Krw1130.1 level remains needed to end bearish hopes and see the overall focus shift higher to tests of the 2013 high.
R 4: Krw1130.1 – Daily support/resistance
R 3: Krw1128.0 – High July 18
R 2: Krw1121.9 – 100 day moving average
R 1: Krw1121.0 – High Aug 23
Latest price: Krw1113.7
S 1: Krw1110.0 – 21 day lower Bollinger band
S 2: Krw1108.3 – Low Aug 8
S 3: Krw1105.0 – Daily resistance/support
S 4: Krw1104.7 – 200 day moving average
USD/SGD: After having failed to take out layers of resistance in the Sgd1.2860-69 region including the major 200-WMA and 21 day upper Bollinger band (Sgd1.2868), correcting overbought daily tech studies are weighing with the pair heading back towards the somewhat pivotal Sgd1.2736 initial support. We continue to look for a close below the Sgd1.2736 level to shift focus back to layers of support in the Sgd1.2550-86 region.
R 4: Sgd1.2899 – High June 5 2012
R 3: Sgd1.2869 – 200 week moving average
R 2: Sgd1.2860 – 2013 high Aug 22
R 1: Sgd1.2791 – High Aug 29
Latest price: Sgd1.2755
S 1: Sgd1.2736 – Low Aug 20
S 2: Sgd1.2724 – 21 day moving average
S 3: Sgd1.2695 – Low Aug 19
S 4: Sgd1.2590 – 100 day moving average