AUD/USD: Dips back towards key support. AUD/USD has dipped back towards the Sept 12 lows with a close below needed to relieve topside pressure and risk a retest of the Sept monthly lows at $1.0165. Stops are expected topside above the Mar 19 highs and a close above is needed to retain focus on retests of the 2012 highs. Daily tech studies have started to correct and may weigh on the pair.
RES 4: $1.0856 – 2012 High Feb 29
RES 3: $1.0690 – High Mar 6
RES 2: $1.0635 – High Mar 19
RES 1: $1.0588 – 21 day upper Bollinger band
LATEST PRICE: $1.0479
SUP 1: $1.0428 – Low Sept 12
SUP 2: $1.0328 – 200 day moving average
SUP 3: $1.0276 – Low Sept 7
SUP 4: $1.0165 – Low Sept 5
NZD/USD: $0.8170 remains somewhat pivotal. NZD took its first backward step in 8 days to start the week as the sharply rising 21 day upper Bollinger band caught up. Sept 12 lows remain key support with a close below needed to shift focus back to retests of Sept monthly lows with the 100-DMA noted at $0.7932. For now overall focus remains on retests of 2012 highs.
RES 4: $0.8568 – Monthly high Aug 2011
RES 3: $0.8467 – 2012 high Feb 2012
RES 2: $0.8405 – High Mar 1
RES 1: $0.8307 – 21 day upper Bollinger band
LATEST PRICE: $0.8292
SUP 1: $0.8170 – Low Sept 12
SUP 2: $0.8083 – Low Sept 10/11
SUP 3: $0.8021 – 200 day moving average
SUP 4: $0.7963 – Hourly support Sept 6
AUD/JPY: Inside day to start the week. Following Friday’s sharp move higher the cross has started the week with an inside day, consolidating at the upper end of Friday’s range. Aug monthly highs remain key topside for AUD/JPY with stops above. A close above is needed to retain overall focus topside with potential for retest of 2012 highs while the 200-DMA supports.
RES 4: Jpy86.81 – High April 2
RES 3: Jpy84.81 – High April 13
RES 2: Jpy83.56 – Monthly high Aug 21
RES 1: Jpy83.27 – 21 day upper Bollinger band
LATEST PRICE: Jpy82.45
SUP 1: Jpy81.91 – 200 day moving average
SUP 2: Jpy80.70 – 100 day moving average
SUP 3: Jpy80.60 – Hourly breakout level
SUP 4: Jpy79.56 – Monthly low July 25
USD/KRW: Pausing ahead of 2012 lows. USD/KRW has managed an inside day to start the week as it pauses ahead of the 2012 lows from Mar 2. The pair continues to remain well below the falling 21 day lower Bollinger band which could see continued consolidation and fresh 2012 lows on hold until the lower Bollinger catches up to the market. Above the 200-DMA is needed to shift focus higher.
RES 4: Krw1158.1 – High July 12
RES 3: Krw1140.9 – 200 day moving average
RES 2: Krw1137.8 – Ichimoku cloud top
RES 1: Krw1124.8 – Previous key daily support now resistance
LATEST PRICE: Krw1116.1
SUP 1: Krw1112.8 – 2012 Low Mar 2
SUP 2: Krw1110.4 – Low Nov 4 2011
SUP 3: Krw1100.2 – Low Oct 31 2011
SUP 4: Krw1094.4 – Falling daily channel base
USD/SGD: Sgd1.2371 key resistance. USD/SGD has managed an inside day to start the week as the sharply falling 21 day lower Bollinger band (Sgd1.2215) catches up with the pair and very oversold daily tech studies start to correct. Sgd1.2371 remains the level to watch with a close above needed to shift focus to retests of the falling daily channel top seen coming in around Sgd1.2474 today
RES 4: Sgd1.2474 – Falling channel top from June 1 high
RES 3: Sgd1.2426 – 21 day moving average
RES 2: Sgd1.2371 – High Sept 10
RES 1: Sgd1.2312 – High Sept 13
LATEST PRICE: Sgd1.2247
SUP 1: Sgd1.2175 – Low Sept 14 2012
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