The close above the 21-DMA for the aussie sees focus shift to Aug 19s high with the Ichimoku cloud base noted below. It is worth noting the AUD/USD has not traded within the cloud since late April/early May. A close above the $0.9100 level would further support a shift higher in focus with overall focus now shifting to tests of the $0.9315-43 region while the $0.8957 level supports. A close back below $0.8957 is needed to see 2013 lows targeted once more.
R 4: $0.9232 – High Aug 19
R 3: $0.9188 – Ichimoku cloud base
R 2: $0.9159 – Hourly resistance Aug 19
R 1: $0.9100 – Hourly resistance Aug 20
Latest price: $0.9055
S 1: $0.8975 – Low Sept 3
S 2: $0.8957 – Hourly resistance/support
S 3: $0.8895 – Low Aug 28
S 4: $0.8850 – 2013 low Aug 5
With the Ichimoku cloud base heading higher we will continue to look for a close above the $0.7887 resistance level to relieve the immediate bearish focus for the NZD/USD that then sees immediate focus shift to the 21-DMA and the $0.7937 previous daily support. A close above this level is needed to end bearish hopes and see the overall focus return to the Aug monthly highs. Oversold daily techs are now looking to correct.
R 4: $0.7922 – Ichimoku cloud base
R 3: $0.7914 – 21 day moving average
R 2: $0.7887 – Daily support/resistance
R 1: $0.7840 – High Aug 29
Latest price: 0.7799
S 1: $0.7775 – Low Sept 3
S 2: $0.7730 – Low Aug 30
S 3: $0.7685 – 2013 Low June 24
S 4: $0.7621 – Low June 8 2012
NZD/USD has broken above the falling daily trend line and managed a close above the 55-DMA (NZ$1.1572) for the first time since early May as the pair paused at the Ichimoku cloud base and just short of the NZ$1.1640 resistance level. Focus has now shifted to the NZ$1.1748 resistance level with potential for a continuation higher that targets the NZ$1.1986-1.2167 region with the 200-DMA noted at NZ$1.2123. Back below NZ$1.1482 is needed to negate.
R 4: NZ$1.1777 – 100 day moving average
R 3: NZ$1.1748 – High July 11
R 2: NZ$1.1640 – High July 22
R 1: NZ$1.1630 – Ichimoku cloud base
Latest price: NZ$1.1603
S 1: NZ$1.1482 – Low Sept 2
S 2: NZ$1.1435 – 21 day moving average
S 3: NZ$1.1361 – Low Aug 21
S 4: NZ$1.1265 – Low Aug 7
AUD/JPY has taken out and closed above the falling daily channel top, 55-DMA and previous daily highs as the immediate focus shifts to tests of the Y91.07-38 region with overall focus having shifted higher to the Y92.70-94.10 region with weekly and monthly highs and the 100 and 200-DMA’s noted in this region. Back below the Y89.00 hourly support from Sept 2 is needed to signal a false break and shift focus lower once more.
R 4: Y93.02 – High July 9
R 3: Y92.70 – High July 24
R 2: Y91.38 – Ichimoku cloud base
R 1: Y91.07 – High July 29
Latest price: Y90.16
S 1: Y89.00 – Hourly support Sept 2
S 2: Y88.00 – Hourly breakout level Sept 2
S 3: Y87.27 – Low Aug 29
S 4: Y86.67 – 21 day lower Bollinger band
After briefly dipping below the 61.8% Fibonacci retracement level of the Krw1054.5-1166.0 move, USD/KRW bounce sharply back towards the 200-DMA. We will continue to look for a close back above the Krw1108.3 previous support to signal false break and see immediate focus return to tests of the Krw1121 level. Overall the Krw1130.1 level remains key resistance with a close above needed to end bearish aspirations.
R 4: Krw1121.4 – 100 day moving average
R 3: Krw1121.0 – High Aug 23
R 2: Krw1105.0 – Daily support/resistance
R 1: Krw1104.9 – 200 day moving average
Latest price: Krw1102.5
S 1: Krw1094.5 – Low Sept 3
S 2: Krw1081.6 – Low Feb 28
S 3: Krw1071.2 – Daily support/resistance
S 4: Krw1054.5 – 2013 low Jan 11
USD/SGD again briefly dipped below the 21-DMA with a close below yesterday’s low now needed to confirm a shift lower in focus that targets the layers of support in the Sgd1.2550-94 support region. The bounce pulled up just short of the Aug 29 high with a close above this level now needed to reconfirm the bullish focus that targets a retest of the 2013 highs set on Aug 22. Daily tech studies are still correcting lower but are now longer overbought.
R 4: Sgd1.2874 – 21 day upper Bollinger band
R 3: Sgd1.2863 – 200 week moving average
R 2: Sgd1.2860 – 2013 high Aug 22
R 1: Sgd1.2791 – High Aug 29
Latest price: Sgd1.2781
S 1: Sgd1.2717 – Low Aug 3
S 2: Sgd1.2694 – Low Aug 19
S 3: Sgd1.2601 – 100 day moving average
S 4: Sgd1.2564 – Low Aug 12