AUD/USD: $1.0290 Remains Key. Although AUD/USD remains heavy it does continue to remain above the key $1.0290 support level with the 100-DMA noted around the $1.0305 level. A close below $1.0290 would see focus return to retests of the $1.0105-50 region. While $1.0290 support focus remains on higher levels with the $1.0460-70 region expected to slow any move higher a little.
RES 4: $1.0624 – Monthly high Sept 14
RES 3: $1.0459 – 21 day upper Bollinger band
RES 2: $1.0411 – High Oct 18
RES 1: $1.0338 – High Oct 22
LATEST PRICE: $1.0336
SUP 1: $1.0290 – Previous resistance now support
SUP 2: $1.0150 – Low Oct 8
SUP 3: $1.0144 – 21 day lower Bollinger band
SUP 4: $1.0105 – 50% retracement of $0.9584-$1.0624 move
NZD/USD: Dips Towards Daily Channel Base. The pair has dipped back towards the rising daily channel base and we look for a close below the 200-DMA as a confirmation of a break. Initial resistance remains the 21-DMA but above the Oct 5 highs are needed to shift focus to retests of the Sept monthly highs. While the rising daily channel supports a bounce higher is favored.
RES 4: $0.8469 – 2012 high Feb 2012
RES 3: $0.8356 – Monthly high Sept 28
RES 2: $0.8264 – High Oct 5
RES 1: $0.8208 – 21 day moving average
LATEST PRICE: $0.8183
SUP 1: $0.8138 – Rising daily channel base off June 2 lows
SUP 2: $0.8083 – Double daily bottom Sept 10 & 11
SUP 3: $0.8078 – 200 day moving average
SUP 4: $0.8056 – 100 day moving average
AUD/JPY: Bullish Daily Close. A strong close for AUD/JPY above the falling daily channel top and the 21 day Upper Bollinger band (Jpy82.29). Immediate focus remains on the Jpy83.10-60 resistance region but the rising upper Bollinger is expected to temper the speed of the rally. A close below yesterday’s lows is needed to call the move higher into question.
RES 4: Jpy86.81 – High Apr 2
RES 3: Jpy84.81 – High Apr 13
RES 2: Jpy83.56 – Monthly high Aug 21
RES 1: Jpy83.10 – Monthly high Sept 14
LATEST PRICE: Jpy82.68
SUP 1: Jpy81.65 – Low Oct 22
SUP 2: Jpy81.26 – Previous daily resistance now support
SUP 3: Jpy79.32- 21 day lower Bollinger band
SUP 4: Jpy78.80 – Falling daily channel base from Aug 21 high
USD/KRW: Fresh 2012 Lows Continue. Another dip below the 21-day lower Bollinger band and fresh 2012 lows for USD/KRW ensure the focus remains on lower levels with potential for a test of the falling daily channel base. The daily channel top has fallen to around Krw1115.9 but the Krw1124.8 level remains key topside with a close above needed to end the current down trend.
RES 4: Krw1135.6 – 200 day moving average
RES 3: Krw1130.6 – Ichimoku cloud base
RES 2: Krw1124.8 – Previous key daily support now resistance
RES 1: Krw1112.0 – 21 day moving average
LATEST PRICE: Krw1101.38
SUP 1: Krw1102.0 – 21 day lower Bollinger band
SUP 2: Krw1100.2 – Low Oct 31 2011
SUP 3: Krw1076.6 – Falling daily channel base
SUP 4: Krw1060.4 – Monthly low Sept 2
USD/SGD: Modest Bounce Continues. USD/SGD continues to edge back towards the initial resistance level but we will look for a close above the 21-DMA to relieve the current overall downside pressure that remains following fresh 2012 lows last week. The falling daily trend line remains in play with a close above needed to end the downtrend that has existed since early June.
RES 4: Sgd1.2339 – High Sept 26
RES 3: Sgd1.2301 – Falling daily channel top from June 1 highs
RES 2: Sgd1.2264 – 21 day moving average
RES 1: Sgd1.2237 – High Oct 15
LATEST PRICE: Sgd1.2211
SUP 1: Sgd1.2195 – 2012 low Oct 22 2012
SUP 2: Sgd1.2153 – 2012 low Sept 14 2012
SUP 3: Sgd1.2049 – Low Sept 6 2011
SUP 4: Sgd1.2014 – Falling daily channel base
EasyForexNews Research Team