Asian Currencies Technicals

AUD/USD continues to head back towards the key $0.9343 resistance level with the pair having closed above the 21-DMA for the first time since mid April. This helps relieve the immediate bearish focus but a close above the key $0.9343 level is needed to see focus shift higher to tests of the $0.9665 high from early June. While the $0.9343 level caps we will continue to look for dips back to the recent 2013 low.
R 4: $0.9795 – 50.0% Retracement of 1.0582-0.9008 move
R 3: $0.9665 – High June 6
R 2: $0.9609 – 38.2% Retracement of 1.0582-0.9008 move
R 1: $0.9343 – High June 26
Latest price: 0.9238
S 1: $0.9150 – Hourly support July 16
S 2: $0.9087 – Low July 15
S 3: $0.9008 – 2013 low July 12
S 4: $0.8771 – Low Aug 25 2010

NZD/USD is bouncing towards the $0.7967 level that we have identified as key resistance this week. A close above this level would see the immediate focus shift higher to tests of the $0.8154 level. It should be tough going topside above the $0.8154 level as layers of resistance are noted above including the 100 and 200-DMA’s. While the $0.7967 level caps potential remains for retests of the $0.7685 level
R 4: $0.8154 – High May 29
R 3: $0.8064 – 38.2% Retracement of 0.8676-0.7685 move
R 2: $0.8052 – High June 19
R 1: $0.7967 – High July 11
Latest price: 0.7882
S 1: $0.7733 – Low July 15
S 2: $0.7685 – 2013 low June 21
S 3: $0.7621 – Low June 8 2012
S 4: $0.7461 – 2012 low May 23

AUD/JPY looks like heading back towards the top of the recent well worn Jpy88.80-93.00 range as the pair pauses ahead of initial resistance. Jpy93.02 remains key resistance and while it remains in play we will look for a test and eventual break of the Jpy88.82 support level and a continuation lower that sees the Jpy85.27 support as the overall target. Above Jpy93.02 is needed
to see focus shift higher to the Jpy96.02 level.
R 4: Jpy94.91 – Falling daily trend line
R 3: Jpy93.79 – High June 10
R 2: Jpy93.03 – 200 day moving average
R 1: Jpy92.00 – High July 11
Latest price: 91.59
S 1: Jpy90.82 – Low July 16
S 2: Jpy89.61 – Low June 25
S 3: Jpy89.26 – 21 day lower Bollinger band
S 4: Jpy88.82 – Low Dec 31 2012

USD/KRW has traded at the lowest level in just over a month as it closed below the 100-DMA for the first time since early May. Immediate focus now shifts lower to tests of the Krw1097.1-1101.4 support region with overall potential for a continuation lower that tests the key Krw1081.7 level. A close above yesterdays’ high is needed to signal a false break while back above the Krw1130.1 level is needed to shift focus higher once more.
R 4: Krw1140.5 – 21 day moving average
R 3: Krw1130.1 – Previous daily support now resistance
R 2: Krw1127.2 – High July 11
R 1: Krw1121.8 – High July 16
Latest price: 1116.5
S 1: Krw1110.2 – 50% Fibonacci retracement 1054.5-1166.0
S 2: Krw1108.4 – Low June 7
S 3: Krw1101.4 – 200 day moving average
S 4: Krw1097.1 – 61.8% Fibonacci retracement 1054.5-1166

USD/SGD is hovering precariously above the rising daily trend line after the failed bounce back towards the 21-DMA on Monday. We will look for a close below the June 19 support as confirmation of a break of the rising daily trend line and a subsequent shift lower in focus to tests of the Sgd1.2385-07 region with the 200-DMA noted at Sgd1.2385. Topside the pair needs to close back above the July 11 high to relieve the current bearish pressure
R 4: Sgd1.2909 – 200 week moving average
R 3: Sgd1.2858 – 2013 high July 8
R 2: Sgd1.2721 – High July 11
R 1: Sgd1.2682 – High July 15
Latest price: 1.2581
S 1: Sgd1.2579- Rising daily trend line
S 2: Sgd1.2550- Low June 19
S 3: Sgd1.2506 – 100 day moving average
S 4: Sgd1.2407 – Low June 7

 

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