AUD/USD: 200-DMA Test Remains Favoured. The AUD/USD continues to oscillate around the Ichimoku Cloud top ($1.0441) as it treads water just above the 21-DMA. The pair remains heavy as daily tech studies continue to unwind from very overbought levels which are likely to make topside going tough work. For now focus remains on tests of the key 200-DMA.
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: $1.0496 – High Sept 18
LATEST PRICE: 1.0488
SUP 1: $1.0388 – 21 day moving average
SUP 2: $1.0331 – 200 day moving average
SUP 3: $1.0276 – Low Sept 7
SUP 4: $1.0165 – Low Sept 5
NZD/USD: Holding Above Previous Breakout Level. The pair is holding above the $0.8230-40 region, being the previous resistance and current initial support on the pullback so far, as daily tech studies continue to unwind from overbought levels. A further dip back to the Sept 12 lows remains favoured but a close below would then shift focus back to the $0.7905-35 region.
RES 4: $0.8568 – Monthly high Aug 2011
RES 3: $0.8469 – 2012 high Feb 2012
RES 2: $0.8353 – High Sept 14
RES 1: $0.8303 – High Sept 17
LATEST PRICE: 0.8274
SUP 1: $0.8241 – Low Sept 18
SUP 2: $0.8170 – Low Sept 12
SUP 3: $0.8083 – Low Sept 10/11
SUP 4: $0.8028 – 200 day moving average
AUD/JPY: 21 day upper Bollinger band capping. The pair remains capped by the 21 day upper Bollinger band and last week’s highs with the result being another dip back below the 200-DMA. Correcting daily tech studies are expected to weigh and reduce the chances of a retest of the Aug monthly high with a test of the Sept monthly lows now favoured.
RES 4: Jpy86.81 – High April 2
RES 3: Jpy84.81 – High April 13
RES 2: Jpy83.56 – Monthly high Aug 21
RES 1: Jpy82.99- 21 day upper Bollinger band
LATEST PRICE: 82.13
SUP 1: Jpy81.95 – 200 day moving average
SUP 2: Jpy80.69 – 100 day moving average
SUP 3: Jpy80.60 – Hourly breakout level
SUP 4: Jpy79.56 – Monthly low July 25
USD/KRW: Consolidation Continues. USD/KRW continues to trade sideways in a narrow range supported ahead of 2012 lows as the sharply falling 21 day lower Bollinger band (Krw1115.8) catches up. A break to fresh 2012 lows would see the pair remain on track to test the falling daily channel base coming in around Krw1093.0 today. Topside the 200-DMA remains pivotal resistance.
RES 4: Krw1158.1 – High July 12
RES 3: Krw1140.5 – 200 day moving average
RES 2: Krw1136.4 – Ichimoku cloud base
RES 1: Krw1124.8 – Previous key daily support now resistance
LATEST PRICE: 1115.5
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: Krw1093.0 – Falling daily channel base
USD/SGD: Sgd1.2372 Resistance Seen As Pivotal. Oversold daily tech studies continue to slowly correct with USD/SGD remaining comfortably below initial resistance at Sgd1.2312 for now. Sept 10 highs remain the resistance level to watch with a close above needed to see focus return to retests of the falling channel top in place off June monthly highs.
RES 4: Sgd1.2461 – Falling channel top from June 1 high
RES 3: Sgd1.2400 – 21 day moving average
RES 2: Sgd1.2371 – High Sept 10
RES 1: Sgd1.2312 – High Sept 13
LATEST PRICE: 1.2244
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