AUD/USD: Layers of support just below market. Fresh 4 week lows continue with the pair dipping below the Ichimoku cloud base, but pulling up just short of the 38.2 Fibo level, the 21 week moving average ($1.0214) and the 100 day moving average. Daily tech studies remain very oversold and will come into play at some stage with above Aug 24 highs is needed to shift focus higher.
RES 4: $1.0544 – High Aug 23
RES 3: $1.0444 – High Aug 24
RES 2: $1.0352 – High Aug 30
RES 1: $1.0276 – Hourly resistance Sept 3
LATEST PRICE: $1.0246
SUP 1: $1.0222 – 32.2% retracement of $0.9584-1.0614 move
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: Approaching key support with o/s tech studies. Support remains just below in the $0.7930-40 region with the 100 day ma, Ichimoku cloud top ($0.7938) and 100 week ma ($0.7941), combined with correcting o/s daily tech studies, likely to place the
immediate continuation lower on hold for the moment. The 21 day lower Bollinger continues to fall with spikes below expected.
RES 4: $0.8235 – High April 30
RES 3: $0.8203 – 21 day upper Bollinger band
RES 2: $0.8088 – High Aug 27
RES 1: $0.8057 – High Aug 29
LATEST PRICE: $0.7987
SUP 1: $0.7935 – 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: Initial target not far below. The cross is making solid headway below the Ichimoku cloud top but the extension below the falling 21 day lower Bollinger band (Jpy80.56) could slow the move lower a little as the Bolli catches up. The initial target remains the July monthly lows with a move back above the Aug 24 highs needed to shift focus back towards the Aug monthly highs.
RES 4: Jpy82.28 – 21 day moving average
RES 3: Jpy82.12 – High Aug 24
RES 2: Jpy81.33 – Hourly resistance Aug 30
RES 1: Jpy80.75 – Previous hourly support now resistance
LATEST PRICE: Jpy80.23
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: Familiar range trading continues. USD/KRW remains stuck in a familiar range that has dominated for the US summer. Relatively flat upper 21 day Bollinger band continues to cap, as do 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.
RES 4: Krw1158.1 – High July 12
RES 3: Krw1147.3 – Ichimoku cloud base
RES 2: Krw1141.3 – 200 day moving average
RES 1: Krw1137.9 – 21 day upper Bollinger band
LATEST PRICE: Krw1131.05
SUP 1: Krw1124.8 – Low Aug 9
SUP 2: Krw1122.1 – 100 week moving average
SUP 3: Krw1112.8 – 2012 Low Mar 2
SUP 4: Krw1092.5 – Low Sept 14
USD/SGD: Heading towards key support region. Focus currently remains on tests of the key Sgd1.2349-00 region and 2012 lows with layers of support noted in this region. Initial resistance is seen on the hourly timeframe at yesterdays highs but back above Aug monthly highs or below Aug monthly lows needed to see the pair break free of potentially continued broad choppy 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: Sgd1.2507 – High Sept 3
LATEST PRICE: Sgd1.2460
SUP 1: Sgd1.2433 – Low Aug 23
SUP 2: Sgd1.2409 – 21 day lower Bollinger band
SUP 3: Sgd1.2400 – Low Aug 6
SUP 4: Sgd1.2349 – 2012 Low April 30
EasyForexNews Research Team