AUD/USD: Focus Now On 200-DMA Tests. Very overbought daily RSI, Slow Stochastic and Momentum studies appear to be taking their toll on the pair with the immediate focus now on tests of the 200-DMA. Below the 200-DMA then sees focus on retests of the Sept monthly lows at $1.0165. A close back above Tuesday’s highs would hint at range trading below the Sept monthly highs at $1.0624.
RES 4: $1.0690 – High Mar 6
RES 3: $1.0624 – High Sept 18
RES 2: $1.0588 – 21 day upper Bollinger band
RES 1: $1.0486 – High Sept 17
LATEST PRICE: 1.0441
SUP 1: $1.0387 – 21 day moving average
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. The Kiwi 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: Focus Now Turns Lower. The pair dipped back below both the 200-DMA and the Ichimoku cloud top (Jpy81.96) before managing to close above. Correcting daily tech studies are likely to reduce the chances of a retest of the Aug monthly high with a test of the Sept monthly lows now favoured. The 21 day upper Bollinger band is noted just above the Sept 14 83.10 highs.
RES 4: Jpy86.81 – High April 2
RES 3: Jpy84.81 – High April 13
RES 2: Jpy83.56 – Monthly high Aug 21
RES 1: Jpy83.17- 21 day upper Bollinger band
LATEST PRICE: 82.32
SUP 1: Jpy81.98 – 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: Consolidation Expected. USD/KRW looks to be bouncing back towards the Krw1124.8 level that supported so well during August and early September. Overall while the pair remains below the 200-DMA a break of 2012 lows is favoured with the falling daily channel base targeted. Consolidation is likely while oversold daily tech studies recover to more neutral levels.
RES 4: Krw1158.1 – High July 12
RES 3: Krw1140.7 – 200 day moving average
RES 2: Krw1136.4 – Ichimoku cloud base
RES 1: Krw1124.8 – Previous key daily support now resistance
LATEST PRICE: 1119.0
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: Krw1093.7 – Falling daily channel base
USD/SGD: Correction Looks To Be Underway. USD/SGD appears to have begun its correction as daily Slow Stochastic, RSI, Momentum and DMIA studies correct from over done levels. This sees focus shift back to the key Sept 10 highs and then the failing channel top above at Sgd1.2464 today. Expect stops above the Sept 13 highs and then more above the Sept 10 highs.
RES 4: Sgd1.2468 – 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: 1.2255
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