AUD/USD: Focus Remains Higher For Now. The $1.0290 level remains key support to end the week with a close below needed to relieve the current topside focus following the past two days of higher highs and lows. Stops are expected above the Oct 18 highs. Layers of resistance remain in the $1.0411-72 region with the flattening 21 day upper Bollinger band at $1.0435 likely to slow the move higher.
RES 4: $1.0518 – High Sept 21
RES 3: $1.0472 – High Sept 28
RES 2: $1.0435 – 21 day upper Bollinger band
RES 1: $1.0411 – High Oct 18
LATEST PRICE: 1.0348
SUP 1: $1.0290 – Alternating support/resistance
SUP 2: $1.0149 – 21 day lower Bollinger band
SUP 3: $1.0105 – 50% retracement of $0.9584-$1.0624 move
SUP 4: $0.9972 – Low June 25
AUD/JPY: Further Topside Favoured. The move higher has paused just ahead of the Aug monthly high as the pair traded at fresh 9 week highs despite overbought daily tech studies. Stops are noted above the Jpy83.56 level and a close back below the Oct 22 highs remains needed to shift focus lower once more. While above this level a break of Jpy83.56 remains favoured.
RES 4: Jpy87.57 – High Mar 27
RES 3: Jpy86.81 – High Apr 2
RES 2: Jpy84.81 – High Apr 13
RES 1: Jpy83.56 – Monthly high Aug 21
LATEST PRICE: 83.09
SUP 1: Jpy82.68 – Hourly support Oct 25
SUP 2: Jpy81.65 – Low Oct 22
SUP 3: Jpy81.26 – Previous daily resistance now support
SUP 4: Jpy79.08 – 21 day lower Bollinger band
USD/KRW: 21-DMA Remains Initial Resistance. Fresh 2012 lows yesterday for USD/KRW as the pair continues to head towards the falling daily channel base coming in around Krw1075.2. The 21 day lower Bollinger is noted at Krw1100.1 with further oscillation expected as the move lower continues. Above the 21-DMA is needed to relieve immediate downside pressure.
RES 4: Krw1135.1 – 200 day moving average
RES 3: Krw1124.8 – Previous key daily support now resistance
RES 2: Krw1117.4 – High Oct 11
RES 1: Krw1109.5 – 21 day moving average
LATEST PRICE: 1098.4
SUP 1: Krw1098.4 – 2012 low Oct 25
SUP 2: Krw1075.2 – Falling daily channel base
SUP 3: Krw1060.4 – Monthly low Sept 2
SUP 4: Krw1048.3 – 2011 low Aug 1
USD/SGD: Spikes Below Lower Bollinger Favoured. The 21-DMA remains the initial resistance with two failed attempts ensuring the focus remains on potential fresh 2012 lows. Daily tech studies have worked off their very oversold condition the past week and are now well placed for another leg lower. The falling daily channel top remains in play and further spikes below the lower Bollinger remain favoured.
RES 4: Sgd1.2372 – High Sept 11
RES 3: Sgd1.2339 – High Sept 26
RES 2: Sgd1.2291 – Falling daily channel top from June 1 highs
RES 1: Sgd1.2254 – 21 day moving average
LATEST PRICE: 1.2215
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: Sgd1.1991 – Falling daily channel base
EasyForexNews Research Team