AUD/USD: Rally Falls Just Short Of Rising Bollinger. The push towards the Mar 19 highs continues with the pair falling just short of a 21 day upper Bollinger band test overnight. The $1.0428 level continues to support on dips with stops now noted below, but overall a close below the 200-DMA is needed to shift focus lower. Daily tech studies continue to head higher with room to move before becoming overbought.
RES 4: $1.0856 – 2012 High Feb 29
RES 3: $1.0635 – High Mar 19
RES 2: $1.0614 – High Aug 9
RES 1: $1.0574 – 21 day upper Bollinger band
LATEST PRICE: 1.0543
SUP 1: $1.0428 – Low Sept 12
SUP 2: $1.0322 – Low Sept 11
SUP 3: $1.0276 – Low Sept 7
SUP 4: $1.0165 – Low Sept 5
NZD/USD: Focus On Retests Of 2012 Highs. Fresh 6 month highs for the Kiwi overnight as the pair closes very much above the sharply rising 21 day upper Bollinger band ($0.8252), which is an indication the rally has managed to get a little ahead of itself. 2012 highs are now the focus with a close below the double daily bottom ($0.8083) needed to shift focus lower.
RES 4: $0.8840 – 2011 high Aug 2011
RES 3: $0.8568 – Monthly high Aug 2011
RES 2: $0.8467 – 2012 high Feb 2012
RES 1: $0.8405 – High Mar 1
LATEST PRICE: 0.8304
SUP 1: $0.8170 – Low Sept 12
SUP 2: $0.8083 – Low Sept 10/11
SUP 3: $0.8015 – 200 day moving average
SUP 4: $0.7963 – Hourly support Sept 6
AUD/JPY: 200-DMA Caps, 100-DMA Supports. More of the same for AUD/JPY as the pair continues to remain capped by the 200-DMA and supported by the 100-DMA. While the 200-DMA continues to cap focus remains on retests of Sept monthly lows, with a close above the 200-DMA needed to see focus return to retests of the Aug monthly highs.
RES 4: Jpy83.56 – Monthly high Aug 21
RES 3: Jpy83.49 – 21 day upper Bollinger band
RES 2: Jpy82.12 – High Aug 24
RES 1: Jpy81.87 – 200 day moving average
LATEST PRICE: 81.68
SUP 1: Jpy80.72 – 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: Move Lower Slowly Unfolding. USD/KRW spiked to fresh 5 month lows yesterday but lacked follow through as it again bounced back above the falling 21 day lower Bollinger band (Krw1127.2). Overall a move lower that retests the 2012 lows remains favoured until a close back above the 200-DMA is seen. Daily tech studies have room to move before becoming oversold.
RES 4: Krw1165.1 – High June 28
RES 3: Krw1158.1 – High July 12
RES 2: Krw1141.3 – 200 day moving average
RES 1: Krw1138.4 – 21 day upper Bollinger band
LATEST PRICE: 1128.6
SUP 1: Krw1122.2 – 100 week moving average
SUP 2: Krw1112.8 – 2012 Low Mar 2
SUP 3: Krw1110.4 – Low Nov 4 2011
SUP 4: Krw1100.2 – Low Oct 31 2011
USD/SGD: 2011 Lows Now The Focus. With fresh 12 month lows coming on a daily basis focus now firmly remains on the 2011 lows at Sgd1.1995. The pair needs to close back above the Sept 10 highs to see focus turn to retests of the falling channel top around the Sgd1.2480 level. The projected channel base comes in around Sgd1.2205 and is now the initial support.
RES 4: Sgd1.2482 – Falling channel top from June 1 high
RES 3: Sgd1.2453 – 21 day moving average
RES 2: Sgd1.2436 – High Sept 7
RES 1: Sgd1.2371 – High Sept 10
LATEST PRICE: 1.2251
SUP 1: Sgd1.2205 – Projected daily channel base
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