AUD/USD: 100 day MA just below market. The pair pulled up just short of the 100 day MA after having taken out the 38.2% Fibo level, while daily tech studies remain very much in oversold territory. Stops are expected below the 100 day MA with focus to remain on lower levels until a move back above the Aug 30 highs is seen. Stops also now noted above yesterdays highs.
RES 4: $1.0544 – High Aug 23
RES 3: $1.0444 – High Aug 24
RES 2: $1.0352 – High Aug 30
RES 1: $1.0286 – High Sept 4
LATEST PRICE: 1.0227
SUP 1: $1.0207 – 100 day moving average
SUP 2: $1.0180 – Low July 25
SUP 3: $1.0140 – Monthly low July 12
SUP 4: $1.0101 – 50% retracement of $0.9584-1.0614 move
NZD/USD: Dips below 100 day moving average. Fresh lows continue for the Kiwi as it dips below the 100 day MA ($0.7932) despite very oversold daily tech studies, with focus now firmly on potential retests of the July monthly lows. Topside the pair needs to close back above the Aug 29 highs to see focus swing higher to retests of the $0.8195-0.8250 region.
RES 4: $0.8195 – 21 day upper Bollinger band
RES 3: $0.8088 – High Aug 27
RES 2: $0.8057 – High Aug 29
RES 1: $0.7996 – High Sept 4
LATEST PRICE: 0.7941
SUP 1: $0.7923 – Low Sept 4
SUP 2: $0.7813 – Monthly low July 25
SUP 3: $0.7783 – Ichimoku cloud base
SUP 4: $0.7621 – Low June 8
AUD/JPY: Comfortable within the Ichimoku cloud. AUD/JPY is starting to look comfortable within the Ichimoku cloud with the immediate focus remaining on a test of the July monthly lows and then June 8 lows beneath. Topside the pair needs to close back above the Aug 30 hourly resistance to shift focus back to retests of the July monthly highs at Jpy83.56.
RES 4: Jpy83.56 – Monthly high Aug 21
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: 80.17
SUP 1: Jpy79.56 – Monthly low July 25
SUP 2: Jpy79.33 – Low June 25
SUP 3: Jpy78.44 – Ichimoku cloud base
SUP 4: Jpy77.73 – Low June 8
USD/KRW: Overbought daily techs correcting. USD/KRW trading remains somewhat lacklustre as the pair remains stuck in a familiar range that has dominated since late July/early Aug. Relatively flat upper 21 day Bolli band continues to cap, as do correcting overbought daily techs. Layers of resistance are noted topside in the Krw1141.4-1158.1 region which are likely to slow
any move higher.
RES 4: Krw1158.1 – High July 12
RES 3: Krw1146.4 – Ichimoku cloud base
RES 2: Krw1141.3 – 200 day moving average
RES 1: Krw1138.0 – 21 day upper Bollinger band
LATEST PRICE: 1133.7
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: Choppy sideways trading expected. Narrowing Bollinger bands are suggesting further range trading before an eventual breakout is seen for USD/SGD. Below the Aug monthly lows (Sgd1.2400) sees the 2012 lows retested while above the Aug 28 highs sees focus turn to retests of the 100 and 200 day moving averages. Daily tech studies currently at neutral levels also indicate 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: 1.2472
SUP 1: Sgd1.2433 – Low Aug 23
SUP 2: Sgd1.2419 – 21 day lower Bollinger band
SUP 3: Sgd1.2400 – Monthly low Aug 6
SUP 4: Sgd1.2349 – 2012 Low April 30
EasyForexNews Research Team