AUD/USD: Focus shifts back to Aug monthly highs. Friday’s sharp move higher paused right on the 21 day MA but the move through layers of resistance has seen focus now shift back to retests of the $1.0540-1.0640 region. Back below Fridays lows is needed to shift focus lower once more. Daily tech studies are now finally correcting from oversold with plenty of room to move topside.
RES 4: $1.0608 – 21 day upper Bollinger band
RES 3: $1.0544 – High Aug 23
RES 2: $1.0444 – High Aug 24
RES 1: $1.0397 – 21 day moving average
LATEST PRICE: 1.0387
SUP 1: $1.0276 – Low Sept 7
SUP 2: $1.0165 – Low Sept 5
SUP 3: $1.0101 – 50% retracement of $0.9584-1.0614 move
SUP 4: $1.0063 – Ichimoku Cloud base
NZD/USD: 200 day MA now seen as pivotal support. The largest daily upmove in over a month has seen focus turn sharply higher and back to retests of the Aug monthly highs with layers of resistance noted in the 0.8180-0.8235 region. The 200 day MA has been somewhat pivotal and we look for a close back below to see focus shift lower once again.
RES 4: $0.8317 – Monthly high Apr 13
RES 3: $0.8235 – High April 30
RES 2: $0.8221 – Monthly high Aug 7
RES 1: $0.8180 – 21 day upper Bollinger band
LATEST PRICE: 0.8123
SUP 1: $0.8007 – 200 day moving average
SUP 2: $0.7963 – Hourly support Sept 6
SUP 3: $0.7917 – Low Sept 5
SUP 4: $0.7813 – Monthly low July 25
AUD/JPY: 200 day moving average key topside. Friday’s follow through rise fell just short of the 200 and 21 day moving averages. Failure to close above the Jpy81.33 level, albeit marginally, now sees us looking to the 200 day MA as the topside pivot with focus then shifting higher once more and back to retests of Aug monthly highs.
RES 4: Jpy83.89 – 21 day upper Bollinger band
RES 3: Jpy83.56 – Monthly high Aug 21
RES 2: Jpy82.12 – High Aug 24
RES 1: Jpy81.84 – 200 day moving average
LATEST PRICE: 81.30
SUP 1: Jpy81.03 – Low Sept 7
SUP 2: Jpy80.60 – Hourly breakout level
SUP 3: Jpy79.56 – Monthly low July 25
SUP 4: Jpy79.33 – Low June 25
USD/KRW: Break lower remains favoured overall. After briefly popping to fresh highs for the month last week USD/KRW is likely to pressure the key Krw1124.8 support with a break lower and a retest of the 2012 lows currently favoured. Below 2012 lows then sees focus ratchet lower with sub 1100 levels then targeted. Topside above the 200 day MA is needed to see focus turn to retests of the July monthly highs.
RES 4: Krw1165.1 – High June 28
RES 3: Krw1158.1 – High July 12
RES 2: Krw1141.3 – 200 day moving average
RES 1: Krw1137.3 – 21 day upper Bollinger band
LATEST PRICE: 1130.5
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: 2012 lows in danger this week. USD/SGD continues the move lower having taken out the base of the month long Sgd1.2400-1.2556 range with the 2012 lows lurking just below. Sharp close below the falling 21 day lower Bollinger band (Sgd1.2400) could be an indication the move has managed to get a little ahead of itself so consolidation could be seen today before heading lower.
RES 4: Sgd1.2556 – High Aug 28
RES 3: Sgd1.2507 – High Sept 3
RES 2: Sgd1.2485 – 21 day moving average
RES 1: Sgd1.2436 – High Sept 7
LATEST PRICE: 1.2360
SUP 1: Sgd1.2349 – 2012 Low April 30
SUP 2: Sgd1.2324 – Low Sept 13 2011
SUP 3: Sgd1.2283 – Low Sept 12 2011
SUP 4: Sgd1.2133 – Low Sept 9 2011
EasyForexNews Research Team