AUD/USD: Bounces From Key Support Region. The $1.0330-50 region remains key support with the AUD/USD bouncing back towards the Nov 7 and 8 highs to start the week. A close below the key support region is needed to end bullish aspirations and see focus turn to retests of the Oct monthly lows. The upper Bollinger band is noted at $1.0457 with spikes above seen as profit taking opportunities.
RES 4: $1.0624 – Monthly high Sept 14
RES 3: $1.0518 – High Sept 21
RES 2: $1.0480 – High Nov 7
RES 1: $1.0442 – High Nov 8
LATEST PRICE: 1.0425
SUP 1: $1.0359 – 21 day moving average
SUP 2: $1.0330 – 200 day moving average
SUP 3: $1.0261 – 21 day lower Bollinger band
SUP 4: $1.0150 – Monthly low Oct 8
NZD/USD: $0.8200-30 Region Key Resistance. The pair has bounced towards the 21-DMA with a close above needed to relieve downside pressure. We look for a close above the $0.8232 resistance level as confirmation of a break of the 21-DMA with focus then returning to the Nov highs so far at $0.8307. While the $0.8197-32 region caps focus remains on layers of support $0.8080-15.
RES 4: $0.8307 – High Nov 7
RES 3: $0.8279 – 21 day upper Bollinger band
RES 2: $0.8232 – Low Nov 6 now resistance
RES 1: $0.8197 – 21 day moving average
LATEST PRICE: 0.8178
SUP 1: $0.8114 – 21 day lower Bollinger band
SUP 2: $0.8103 – Monthly low Oct 23
SUP 3: $0.8083 – Double daily bottom Sept 10 & 11
SUP 4: $0.8002 – 100 week moving average
AUD/JPY: Jpy81.26-00 Region Key Support. The Jpy81.99 double daily bottom remained untested to start the week and a close above the Jpy83.05 level remains needed to see focus return to retests of the Jpy84.10-20 region. Layers of support including the Ichimoku cloud remain in the Jpy81.26-00 region with a close below needed to see focus turn to tests of the Oct monthly lows.
RES 4: Jpy86.81 – High Apr 2
RES 3: Jpy84.81 – High Apr 13
RES 2: Jpy84.02 – 21 day upper Bollinger band
RES 1: Jpy83.05 – Previous hourly support now resistance
LATEST PRICE: 82.86
SUP 1: Jpy81.99 – Double daily bottom Oct 30 & Nov 9
SUP 2: Jpy81.65 – Low Oct 22
SUP 3: Jpy81.26 – Previous daily resistance now support
SUP 4: Jpy81.09 – 21 day lower Bollinger band
USD/KRW: Continues To Remain Heavy. The 21-DMA continues to remain key with a close above needed to relieve downside pressure and shift focus back to the Krw1117-1125 region. The 100-WMA is noted at Krw1119.2, increasing the significance of the Krw1117-1125 resistance region. Daily tech studies are slowly correcting but the pair currently remains heavy.
RES 4: Krw1117.4 – High Oct 11
RES 3: Krw1109.9 – Previous daily support now resistance
RES 2: Krw1197.5 – 21 day moving average
RES 1: Krw1094.3 – High Nov 5
LATEST PRICE: 1090.5
SUP 1: Krw1084.1 – 2012 low Nov 7
SUP 2: Krw1067.2 – Falling daily channel base
SUP 3: Krw1060.4 – Monthly low Sept 2
SUP 4: Krw1048.3 – 2011 low Aug 1
USD/SGD: Flat Bolli Bands Suggest More Sideways. USD/SGD remains supported by the 21-DMA and capped by the Nov 5 highs with flattening 21-day Bollinger bands suggesting sideways trading may continue for the time being. Overall while the Nov 1 lows continue to support a break higher remains slightly favoured. Back below Nov 1 low sees fresh 2012 lows on the cards once more.
RES 4: Sgd1.2411 – 100 day moving average
RES 3: Sgd1.2372 – High Sept 11
RES 2: Sgd1.2339 – High Sept 26
RES 1: Sgd1.2267 – High Nov 5
LATEST PRICE: 1.2231
SUP 1: Sgd1.2218 – 21 day moving average
SUP 2: Sgd1.2187 – Low Nov 1
SUP 3: Sgd1.2173 – 21 day lower Bollinger band
SUP 4: Sgd1.2153 – 2012 low Oct 22 2012
EasyForexNews Research Team