AUD/USD: Below $1.0290 Shifts Focus Lower. Last week’s move above the 200-DMA has been reversed with the break and close back below the pivotal $1.0290 level confirming. Focus has now returned to the $1.0105-50 region with a close below needed to see focus turn to sub parity levels. The $1.0290 level now becomes initial resistance once again.
RES 4: $1.0459 – 21 day upper Bollinger band
RES 3: $1.0411 – High Oct 18
RES 2: $1.0338 – High Oct 22
RES 1: $1.0290 – Alternating daily support/resistance
LATEST PRICE: $1.0261
SUP 1: $1.0203 – Low Oct 15
SUP 2: $1.0146 – 21 day lower Bollinger band
SUP 3: $1.0105 – 50% retracement of $0.9584-$1.0624 move
SUP 4: $0.9972 – Low June 25
NZD/USD: Pausing Ahead of Layers of Support For Now. The pair has broken and closed below the rising daily channel base that has been in play since early June but is currently hesitating ahead of layers of support in the $0.8080-85 region including the 200-DMA at $0.8080. We look for a close below as confirmation of the break of the uptrend with focus then turning to Sept monthly lows.
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: $0.8203 – 21 day moving average
LATEST PRICE: $0.8107
SUP 1: $0.8083 – Double daily bottom Sept 10 & 11
SUP 2: $0.8062 – 100 day moving average
SUP 3: $0.8013 – 38.2% retracement of $0.7461-0.8356 move
SUP 4: $0.7917 – Monthly low Sept 5
AUD/JPY: Dips Back Towards Ichimoku Cloud Top. It appears as though correcting daily tech studies are weighing on AUD/JPY as it dips back towards initial support and the Ichimoku cloud top just below at Jpy81.56. A close below the Jpy81.55-65 support region is needed to shift focus from tests of the Jpy83.10-60 region back to the Oct monthly lows so far around Jpy79.40.
RES 4: Jpy84.81 – High Apr 13
RES 3: Jpy83.56 – Monthly high Aug 21
RES 2: Jpy83.10 – Monthly high Sept 14
RES 1: Jpy82.44 – 21 day upper Bollinger band
LATEST PRICE: Jpy81.97
SUP 1: Jpy81.65 – Low Oct 22
SUP 2: Jpy81.26 – Previous daily resistance now support
SUP 3: Jpy79.26 – 21 day lower Bollinger band
SUP 4: Jpy78.80 – Falling daily channel base from Aug 21 high
USD/KRW: Oversold Daily Tech Studies May Support. USD/KRW again dipped below the falling 21 day lower Bollinger band before responding with fresh highs for the week so far. Daily tech studies are in oversold territory and combined with the lower Bollinger band, may provide support on dips. Overall the Krw1124.8 region remains key topside and is expected to cap any decent corrections.
RES 4: Krw1135.4 – 200 day moving average
RES 3: Krw1124.8 – Previous key daily support now resistance
RES 2: Krw1117.4 – High Oct 11
RES 1: Krw1111.3 – 21 day moving average
LATEST PRICE: Krw1102.97
SUP 1: Krw1102.0 – 21 day lower Bollinger band
SUP 2: Krw1100.2 – Low Oct 31 2011
SUP 3: Krw1075.9 – Falling daily channel base
SUP 4: Krw1060.4 – Monthly low Sept 2
USD/SGD: Pauses at the 21-DMA. USD/SGD took out initial resistance before pausing at the 21-DMA. A close above remains needed to see the Sgd1.2300-40 region come into play with the falling daily channel top noted around Sgd1.2300. Above the Sept 26 highs confirms an end to the current downtrend and shifts overall focus back to the Sgd1.2500-50 region with the 200-DMA at Sgd1.2537.
RES 4: Sgd1.2372 – High Sept 11
RES 3: Sgd1.2339 – High Sept 26
RES 2: Sgd1.2300 – Falling daily channel top from June 1 highs
RES 1: Sgd1.2262 – 21 day moving average
LATEST PRICE: Sgd1.2251
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