AUD/USD: Oversold tech studies could be an issue. Oversold daily tech studies looking to correct may be an issue for the immediate continuation lower with the Ichimoku cloud top and 38.2% Fibo ($1.0222) lurking below. Topside back above Aug 24 highs is needed to shift focus to breaks of the 21 day MA and $1.0630-50 retests. While Aug 24 highs cap focus remains on tests of the 100 day MA.
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: 1.0328
SUP 1: $1.0246 – Ichimoku cloud top
SUP 2: $1.0207 – 100 day moving average
SUP 3: $1.0180 – Low July 25
SUP 4: $1.0140 – Monthly low July 12
NZD/USD: Well supported $0.7930-40 region. Plenty of support clustered in the $0.7930-40 region with the 100 day ma, Ichimoku cloud top ($0.7938) and 100 week MA ($0.7936), combined with correcting o/s daily tech studies, likely to place the immediate continuation lower on hold for the moment. Topside back above Aug 27 highs is needed to shift focus back to the $0.8235-40 region.
RES 4: $0.8235 – High April 30
RES 3: $0.8209 – 21 day upper Bollinger band
RES 2: $0.8088 – High Aug 27
RES 1: $0.8057 – High Aug 29
LATEST PRICE: 0.8035
SUP 1: $0.7937 – 100 day moving average
SUP 2: $0.7813 – Monthly low July 25
SUP 3: $0.7767 – Ichimoku cloud base
SUP 4: $0.7621 – Low June 8
AUD/JPY: Chopping around Ichimoku cloud top. The pair is currently chopping around the falling 21 day lower Bollinger and the Ichimoku cloud top with a move back above the Aug 24 highs needed to shift focus back towards the Aug monthly highs. Last weeks close below the 21 week ma adds weight to the bearish case but oversold daily tech studies may be an issue.
RES 4: Jpy82.84 – High Aug 23
RES 3: Jpy82.41 – 21 day moving average
RES 2: Jpy82.12 – High Aug 24
RES 1: Jpy81.33 – Hourly resistance Aug 30
LATEST PRICE: 80.89
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: Upper Bolli and O/B tech studies capping. USD/KRW remains confined to its recent well worn range, remaining capped by a relatively flat upper 21 day Bollinger band and correcting overbought daily tech studies. Layers of resistance are noted topside in the Krw1141.4-1158.1 region which are likely to slow any move higher, while the 21 day lower Bollinger band adds support to
lower levels.
RES 4: Krw1158.1 – High July 12
RES 3: Krw1147.8 – Ichimoku cloud base
RES 2: Krw1141.4 – 200 day moving average
RES 1: Krw1138.1 – 21 day upper Bollinger band
LATEST PRICE: 1133.9
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: Focus turns lower once more. The sharp correction from last weeks highs back below the 21 day ma to end the week sees focus shift back to tests of the key Sgd1.2349-00 region and 2012 lows. Initial resistance is seen on the hourly timeframe at Sgd1.2498 with back above Aug monthly highs or below Aug monthly lows needed to see the pair break free of recent range trading.
RES 4: Sgd1.2644 – High July 25
RES 3: Sgd1.2604 – 100 day moving average
RES 2: Sgd1.2556 – High Aug 28
RES 1: Sgd1.2498 – Hourly resistance Aug 31
LATEST PRICE: 1.2475
SUP 1: Sgd1.2433 – Low Aug 23
SUP 2: Sgd1.2403 – 21 day lower Bollinger band
SUP 3: Sgd1.2400 – Low Aug 6
SUP 4: Sgd1.2349 – 2012 Low April 30
EasyForexNews Research Team