AUD/USD: Focus Returns To Oct 18 Highs. After heading higher once more the AUD/USD found support on a dip back to the $1.0290 level which again becomes initial support. The Oct 18 highs now become the initial focus and failure around this level would see Oct monthly lows so far come back into the picture. The Ichimoku cloud base is also noted capping the move higher today and comes in at $1.0362.
RES 4: $1.0518 – High Sept 21
RES 3: $1.0472 – High Sept 28
RES 2: $1.0436 – 21 day upper Bollinger band
RES 1: $1.0411 – High Oct 18
LATEST PRICE: 1.0339
SUP 1: $1.0290 – Alternating support/resistance
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: Consolidation Below The 21-DMA Continues. Consolidation below the 21-DMA isn’t a good sign for the Kiwi after having broken the rising daily channel base. With the 200-DMA and 100-DMA at $0.8079 and $0.8066 we look for a close below this region as confirmation of a shift lower in focus. This then sees the $0.7810-0.7920 region become targeted.
RES 3: $0.8469 – 2012 high Feb 2012
RES 2: $0.8356 – Monthly high Sept 28
RES 1: $0.8264 – High Oct 5
LATEST PRICE: 0.8203
SUP 1: $0.8083 – Double daily bottom Sept 10 & 11
SUP 2: $0.8066 – 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: Layers Of Resistance Just Above. Tests of the rising 21 day upper Bollinger band continue with a close back below the Oct 22 lows needed to relieve the current topside pressure. Correcting over bought daily tech studies are likely to be aiding the recent choppy range trading. Topside the Jpy83.10-56 region is likely to be a challenge with layers of resistance noted.
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: Jpy82.67 – 21 day upper Bollinger band
LATEST PRICE: 82.49
SUP 1: Jpy81.65 – Low Oct 22
SUP 2: Jpy81.26 – Previous daily resistance now support
SUP 3: Jpy79.20 – 21 day lower Bollinger band
SUP 4: Jpy78.77 – Falling daily channel base from Aug 21 high
USD/KRW: Consolidates Above 2012 Lows. Consolidation above the recent fresh 2012 lows continues as USD/KRW daily tech studies look to correct from oversold levels. Overall the Krw1124.8 region remains key topside and is expected to cap any decent corrections. The 21-DMA remains initial resistance with a close above not seen since mid Sept.
RES 4: Krw1135.2 – 200 day moving average
RES 3: Krw1124.8 – Previous key daily support now resistance
RES 2: Krw1117.4 – High Oct 11
RES 1: Krw1110.6 – 21 day moving average
LATEST PRICE: 1103.9
SUP 1: Krw1101.5 – 21 day lower Bollinger band
SUP 2: Krw1100.2 – Low Oct 31 2011
SUP 3: Krw1075.2 – Falling daily channel base
SUP 4: Krw1060.4 – Monthly low Sept 2
USD/SGD: 21-DMA Caps Again. The 21-DMA has capped the attempt higher the past two consecutive days and we look for a close above to relive downside pressure. The falling daily channel top comes in around Sgd1.2298 today and a close above would end the downtrend that has been in play since early June. A close above remains needed to see the Sgd1.2300-40 region come into play.
RES 4: Sgd1.2372 – High Sept 11
RES 3: Sgd1.2339 – High Sept 26
RES 2: Sgd1.2298 – Falling daily channel top from June 1 highs
RES 1: Sgd1.2259 – 21 day moving average
LATEST PRICE: 1.2222
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