AUD/USD: Focus Firmly Remains On Higher Levels. Fresh 3 week highs for the pair as it closed above the 21-DMA with focus firmly on retests of the $1.0540-1.0640 region. Yesterdays bounce from ahead of the 200-DMA now sees the $1.0320-25 region as key support with a close back below needed to see focus swing back to retests of the Sept monthly lows so far noted at $1.0168.
RES 4: $1.0635 – High Mar 19
RES 3: $1.0614 – High Aug 9
RES 2: $1.0569 – 21 day upper Bollinger band
RES 1: $1.0544 – High Aug 23
LATEST PRICE: 1.0431
SUP 1: $1.0322 – Low Sept 11
SUP 2: $1.0276 – Low Sept 7
SUP 3: $1.0165 – Low Sept 5
SUP 4: $1.0101 – 50% retracement of $0.9584-1.0614 move
NZD/USD: Spikes Above Upper Bollinger Band. Fresh 4 week highs for the Kiwi as the pair spiked above the now rising 21 day Bollinger band with initial focus firmly on retests of the key $0.8221-35 region and a break above potentially targeting retests of the 2012 highs. Initial support is seen at the recent double daily bottom ($0.8083) with a close below needed to relieve topside pressure.
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: $0.8187 – 21 day upper Bollinger band
LATEST PRICE: 0.8173
SUP 1: $0.8083 – Low Sept 11
SUP 2: $0.8010 – 200 day moving average
SUP 3: $0.7963 – Hourly support Sept 6
SUP 4: $0.7917 – Low Sept 5
AUD/JPY: Consolidating Between Moving Averages. The pair continues to trade sideways, supported by the 100-DMA and capped by the 200-DMA. Below the 100-DMA sees focus return to retests of Sept monthly lows while above the 200-DMA sees focus return to retests of the Aug monthly highs. Overall while the 200-DMA caps the break lows is slightly favoured.
RES 4: Jpy83.73 – 21 day upper Bollinger band
RES 3: Jpy83.56 – Monthly high Aug 21
RES 2: Jpy82.12 – High Aug 24
RES 1: Jpy81.85 – 200 day moving average
LATEST PRICE: 81.12
SUP 1: Jpy80.77 – 100 day moving average
SUP 2: Jpy80.60 – Hourly breakout level
SUP 3: Jpy79.56 – Monthly low July 25
SUP 4: Jpy79.33 – Low June 25
USD/KRW: Key Support Expected To Break. USD/KRW has retested the key Krw1124.8 support level following another spike below the lower Bollinger band that has finally seen it turn down. Stops remain below the Krw1120 level with a break lower expected to see the 2012 lows retested with a further break lower targeted overall. Topside the Krw1138-42 region remains key resistance.
RES 4: Krw1165.1 – High June 28
RES 3: Krw1158.1 – High July 12
RES 2: Krw1141.3 – 200 day moving average
RES 1: Krw1137.7 – 21 day upper Bollinger band
LATEST PRICE: 1128.5
SUP 1: Krw1124.8 – Low Aug 9
SUP 2: Krw1122.2 – 100 week moving average
SUP 3: Krw1112.8 – 2012 Low Mar 2
SUP 4: Krw1092.5 – Low Sept 14
USD/SGD: Stops Noted Above Sgd1.2375. Following yesterday’s consolidation USD/SGD has broken to fresh 12 month lows and now has the 2011 low at Sgd1.1995 firmly in its sights. Stops are seen above the Sept 10 highs which also capped yesterdays move but overall back above the falling trend line from June 1 highs is needed to see the down trend come to an end.
RES 4: Sgd1.2494 – Falling daily trend line from June 1 high
RES 3: Sgd1.2473 – 21 day moving average
RES 2: Sgd1.2436 – High Sept 7
RES 1: Sgd1.2371 – High Sept 10
LATEST PRICE: 1.2296
SUP 1: Sgd1.2283 – Low Sept 12 2011
SUP 2: Sgd1.2133 – Low Sept 9 2011
SUP 3: Sgd1.2002 – Double daily bottom Aug 16/17 2011
SUP 4: Sgd1.1995 – 2011 Low July 27 2011
EasyForexNews Research Team