AUD/USD: Move lower looking a little over done. Spikes below the sharply falling lower 21 day Bollinger band continue following the break of the 200 day MA. Initial resistance is seen at yesterday’s highs with back above Aug 24 highs needed to shift focus to breaks of the 21 day MA and $1.0630-50 retests. Oversold daily techs and a close below the lower Bollinger band could see consolidation ahead today.
RES 4: $1.0578 – High Aug 10
RES 3: $1.0544 – High Aug 23
RES 2: $1.0444 – High Aug 24
RES 1: $1.0352 – High Aug 30
LATEST PRICE: 1.0298
SUP 1: $1.0240 – Ichimoku cloud top
SUP 2: $1.0208 – 100 day moving average
SUP 3: $1.0180 – Low July 25
SUP 4: $1.0140 – Monthly low July 12
NZD/USD: Bearish close but consolidation expected today. The move below the $0.8038 Aug 15 low hasn’t disappointed thus far, being followed up with a break below the 200 day MA (also at $0.7997), but oversold daily tech studies and a close below the 21 day lower Bollinger band ($0.7997) hint at consolidation above the Ichimoku cloud top to end the week.
RES 4: $0.8235 – High April 30
RES 3: $0.8192 – 21 day upper Bollinger band
RES 2: $0.8088 – High Aug 27
RES 1: $0.8031 – High Aug 30
LATEST PRICE: 0.7980
SUP 1: $0.7953 – Ichimoku cloud top
SUP 2: $0.7939 – 100 day moving average
SUP 3: $0.7813 – Monthly low July 25
SUP 4: $0.7767 – Ichimoku cloud base
AUD/JPY: Dips below Ichimoku cloud top. Consolidation of the break below the 200 day MA (Jpy 81.77) continues with the pair also dipping below the 100 day MA (Jpy81.04) and Ichimoku cloud top (Jpy80.91). Initial resistance is seen on the hourly time frame from Aug 30 but back above the 21 day MA is needed to shift focus away from an eventual test of July monthly lows.
RES 4: Jpy82.84 – High Aug 23
RES 3: Jpy82.46 – 21 day moving average
RES 2: Jpy82.12 – High Aug 24
RES 1: Jpy81.33 – Hourly resistance Aug 30
LATEST PRICE: 80.95
SUP 1: Jpy79.56 – Monthly low July 25
SUP 2: Jpy79.33 – Low June 25
SUP 3: Jpy78.42 – Ichimoku cloud base
SUP 4: Jpy77.73 – Low June 8
USD/KRW: Recent range continues to dominate. USD/KRW continues to do little, remaining capped by a relatively flat upper 21 day Bollinger band and inhibited by correcting overbought daily tech studies. Layers of resistance are noted topside in the Krw1141.6-1158.1 region which are likely to slow the move. The 21 day lower Bollinger band adds support to the Krw1125.30 support region.
RES 4: Krw1158.1 – High July 12
RES 3: Krw1148.4 – Ichimoku cloud base
RES 2: Krw1141.6 – 200 day moving average
RES 1: Krw1138.0 – 21 day upper Bollinger band
LATEST PRICE: 1134.1
SUP 1: Krw1124.8 – Low Aug 9
SUP 2: Krw1121.9 – 100 week moving average
SUP 3: Krw1112.8 – 2012 Low Mar 2
SUP 4: Krw1092.5 – Low Sept 14
USD/SGD: Pausing ahead of weekly highs. The pair continues to pause ahead of this week’s Sgd1.2656 highs and the rising 21 day upper Bollinger band. Focus remains on tests of the 100 day moving average until a close back below the 21 day moving average is seen. Back below the 21 day MA would see focus shift back to tests of the key Sgd1.2349-00 region and 2012 lows.
RES 4: Sgd1.2660 – 200 day moving average
RES 3: Sgd1.2644 – High July 25
RES 2: Sgd1.2604 – 100 day moving average
RES 1: Sgd1.2564 – 21 day upper Bollinger band
LATEST PRICE: 1.2532
SUP 1: Sgd1.2500 – Hourly support Aug 27
SUP 2: Sgd1.2433 – Low Aug 23
SUP 3: Sgd1.2400 – Low Aug 6
SUP 4: Sgd1.2349 – 2012 Low April 30
EasyForexNews Research Team