AUD/USD: Struggling Ahead Of Oct 18 High. The AUD/USD has had another bounce towards the Oct 18 highs but has again failed to close above which is needed to retain topside focus. Back below the $1.0290 level would now be considered very bearish following the recent failures to better the Oct 18 high. The flat upper Bollinger at $1.0413 is adding to resistance and is likely to slow any move higher.
RES 4: $1.0518 – High Sept 21
RES 3: $1.0472 – High Sept 28
RES 2: $1.0413 – 21 day upper Bollinger band
RES 1: $1.0411 – High Oct 18
LATEST PRICE: 1.0365
SUP 1: $1.0290 – Alternating support/resistance
SUP 2: $1.0160 – 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: Struggling Ahead Of Initial Resistance. The pair continues to hesitate ahead of initial resistance in the $0.8240-65 region with the 21 day upper Bollinger band noted at $0.8251. The pair needs to close above this region to retain focus on Sept highs. While this region caps there is an increased risk of a retest of key support in the $0.8080-05 region with below targeting Sept 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: $0.8241 – High Oct 25
LATEST PRICE: 0.8208
SUP 1: $0.8160 – Hourly support Oct 25
SUP 2: $0.8103 – Low Oct 23
SUP 3: $0.8083 – Double daily bottom Sept 10 & 11
SUP 4: $0.8013 – 38.2% retracement of $0.7461-0.8356 move
AUD/JPY: Aug Monthly Highs Key Resistance. The Aug monthly highs at Jpy83.56 remain key topside and while this level caps there is an increased risk of a pullback towards the layers of support in the Jpy81.25-65 region with 21, 55 and 100-DMA’s all noted in this region. Overbought daily tech studies are also impeding the current move higher with more Jpy81.65-83.55 for now.
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: 82.53
SUP 1: Jpy81.65 – Low Oct 22
SUP 2: Jpy81.26 – Previous daily resistance now support
SUP 3: Jpy79.42 – Monthly low Oct 8
SUP 4: Jpy79.06 – 21 day lower Bollinger band
USD/KRW: Fresh 2012 Lows Continue. Fresh 2012 lows and the lowest level recorded in over 12 months keep the pair on track for a test of the falling daily channel base despite the very oversold daily tech studies. Oscillation is expected to continue around the lower Bollinger band (Krw1094.2) with a close above the 21-DMA needed to relieve the immediate downside focus.
RES 4: Krw1134.5 – 200 day moving average
RES 3: Krw1124.8 – Previous key daily support now resistance
RES 2: Krw1117.4 – High Oct 11
RES 1: Krw1106.9 – 21 day moving average
LATEST PRICE: 1091.3
SUP 1: Krw1090.2 – 2012 low Oct 30
SUP 2: Krw1072.3 – Falling daily channel base
SUP 3: Krw1060.4 – Monthly low Sept 2
SUP 4: Krw1048.3 – 2011 low Aug 1
USD/SGD: While 21-DMA Caps Focus Remains Lower. The 21-DMA remains initial resistance with falling daily channel top just above. While this region continues to cap the focus remains on fresh 2012 lows although the lower 21 day Bollinger band at Sgd1.2149 may slow the move a little, with repeated closed below the lower band very rarely seen. Above Sept 26 highs would confirm an end to the current trend.
RES 4: Sgd1.2372 – High Sept 11
RES 3: Sgd1.2339 – High Sept 26
RES 2: Sgd1.2271 – Falling daily channel top from June 1 highs
RES 1: Sgd1.2244 – 21 day moving average
LATEST PRICE: 1.2191
SUP 1: Sgd1.2190 – Low Oct 30
SUP 2: Sgd1.2153 – 2012 low Oct 22 2012
SUP 3: Sgd1.2049 – Low Sept 6 2011
SUP 4: Sgd1.1971 – Falling daily channel base
EasyForexNews Research Team