AUD/USD: Testing Oct 18 Highs. The AUD/USD managed to come within a pip of the Oct 18 highs with a close above needed to maintain overall bullish focus and keep hopes of a retest of the Sept monthly highs alive. Initial support is now noted at the Nov 1 lows but it’s the $1.0290 level that remains key with the 21-DMA noted just above at $1.0300.
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: 1.0401
SUP 1: $1.0354 – Low Nov 1
SUP 2: $1.0290 – Alternating support/resistance
SUP 3: $1.0165 – 21 day lower Bollinger band
SUP 4: $1.0105 – 50% retracement of $0.9584-$1.0624 move
NZD/USD: Focus On Sept Monthly Highs. The break and close above the $0.8240-65 region sees immediate focus on retests of the Sept monthly highs. The Kiwi has also managed to close above the rising 21 day upper Bollinger ($0.8254) with continued oscillation expected as the pair heads higher. A close back below the $0.8160 support is needed to relieve topside pressure.
RES 4: $0.8840 – 2011 high Aug 1 2011
RES 3: $0.8568 – High Aug 31 2011
RES 2: $0.8469 – 2012 high Feb 2012
RES 1: $0.8356 – Monthly high Sept 28
LATEST PRICE: 0.8271
SUP 1: $0.8240 – Previous daily resistance now support
SUP 2: $0.8160 – Hourly support Oct 25
SUP 3: $0.8103 – Monthly low Oct 23
SUP 4: $0.8083 – Double daily bottom Sept 10 & 11
AUD/JPY: Pressure Remains Topside. AUD/JPY continues to pause ahead of the Aug monthly highs with stops noted above. The 21 day upper Bollinger band continues to head higher (Jpy83.90) and a break above the Aug monthly highs is expected to see spikes above the upper Bollinger recommence. The Jpy81.50-00 support is key with previous lows and moving averages noted.
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: 82.81
SUP 1: Jpy81.99 – Low Oct 30
SUP 2: Jpy81.65 – Low Oct 22
SUP 3: Jpy81.26 – Previous daily resistance now support
SUP 4: Jpy79.42 – Monthly low Oct 8
USD/KRW: Oversold Daily Tech Studies Noted. Oversold daily tech studies may finally be having an impact on USD/KRW with it hesitating above the fresh 2012 lows. Any decent bounce will be met with layers of resistance and the 21-DMA remains key, with a close above not seen since early Sept. For now it looks like the pair will continue to trade sideways in a Krw1190-1105 range level.
RES 4: Krw1124.8 – Previous key daily support now resistance
RES 3: Krw1117.4 – High Oct 11
RES 2: Krw1104.8 – 21 day moving average
RES 1: Krw1099.8 – High Oct 26
LATEST PRICE: 1090.4
SUP 1: Krw1089.7 – 2012 low Oct 30
SUP 2: Krw1070.8 – 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. USD/SGD continues to tread water in a relatively narrow range as the 21-DMA caps. With the falling daily trend line coming in at Sgd1.2258 today a close above the Sgd1.2233-58 region is needed to relieve downside pressure while a close above the Sept 26 highs would confirm an end to the move lower and bring the Sgd1.2550 region into focus.
RES 4: Sgd1.2372 – High Sept 11
RES 3: Sgd1.2339 – High Sept 26
RES 2: Sgd1.2258 – Falling daily channel top from June 1 highs
RES 1: Sgd1.2239 – 21 day moving average
LATEST PRICE: 1.2202
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: Sgd1.1958 – Falling daily channel base
EasyForexNews Research Team