AUD/USD: Overall Focus Now On Oct Monthly Lows. The pair has taken out the previously mentioned $1.0330-80 support region with the close below the 21-DMA, 100-DMA, rising daily channel base and Ichimoku cloud now shifting overall focus to retests of the Oct monthly lows. Initially we will look for a close above yesterday’s highs to negate this view with daily techs correcting from overbought levels.
RES 4: $1.0518 – High Sept 21
RES 3: $1.0480 – High Nov 7
RES 2: $1.0454 – 21 day upper Bollinger band
RES 1: $1.0386 – High Nov 15
LATEST PRICE: 1.0318
SUP 1: $1.0285 – 21 day lower Bollinger band
SUP 2: $1.0238 – Low Oct 23
SUP 3: $1.0150 – Monthly low Oct 8
SUP 4: $1.0105 – 50% retracement of $0.9584-$1.0624 move
NZD/USD: Pausing Ahead Of 200-DMA. The move lower continues for Kiwi with the pair pausing just above the 200-DMA after marginally trading at fresh 2 month lows and taking out the double daily bottom from Sept 10 & 11. A close below the 200-DMA would confirm overall focus on the Sept monthly lows. The lower Bollinger band is now heading lower with spikes below to continue.
RES 4: $0.8286 – 21 day upper Bollinger band
RES 3: $0.8232 – Low Nov 6 now resistance
RES 2: $0.8188 – 21 day moving average
RES 1: $0.8128 – High Nov 15
LATEST PRICE: 0.8093
SUP 1: $0.8076 – 200 day moving average
SUP 2: $0.8001 – 100 week moving average
SUP 3: $0.7917 – Monthly low Sept 5
SUP 4: $0.7803 – 61.8% retracement of $0.7461-$0.8356 move
AUD/JPY: Spikes Above Upper Bollinger Band. AUD/JPY pulled up short of the Nov 7 highs overnight following the spike above the 21 day upper Bollinger band. Expect the upper Bollinger to moderate the move higher with oscillation around the band expected to continue. Below initial support is needed to relieve immediate topside pressure, below Jpy81.99 is needed to shift focus lower.
RES 4: Jpy86.81 – Monthly high Apr 2
RES 3: Jpy84.81 – High Apr 13
RES 2: Jpy84.15 – High Nov 7
RES 1: Jpy83.85 – 21 day upper Bollinger band
LATEST PRICE: 83.79
SUP 1: Jpy82.99 – Low Nov 15
SUP 2: Jpy81.99 – Double daily bottom Oct 30 & Nov 9
SUP 3: Jpy81.85 – 21 day lower Bollinger band
SUP 4: Jpy81.65 – Low Oct 22
USD/KRW: 21-DMA Remains Key Resistance. With the daily Slow Stochatic correcting from very oversold levels USD/KRW continues to trade in narrow ranges. The 21-DMA remains key topside with a close above not seen since early Sept. A close above is needed to end the nearly 6 month long down trend and shift immediate focus back to retests of the Krw1110-24 region.
RES 4: Krw1124.6 – Previous daily support now resistance
RES 3: Krw1117.4 – High Oct 11
RES 2: Krw1109.9 – Previous daily support now resistance
RES 1: Krw1194.9 – 21 day moving average
LATEST PRICE: 1088.7
SUP 1: Krw1084.0 – 2012 low Nov 7
SUP 2: Krw1065.1 – Falling daily channel base
SUP 3: Krw1060.4 – Monthly low Sept 2
SUP 4: Krw1048.3 – 2011 low Aug 1
USD/SGD: Narrow Range Trading Continues. USD/SGD continues to trade sideways in a narrow range with Sgd1.2187-1.2267 defining for the past 4 weeks. The 21-DMA is proving support at present and while the pair continues to trade above a break higher remains favoured. In saying that, the 21 day upper Bollinger band (Sgd1.2260) is expected to moderate the move higher.
RES 4: Sgd1.2395 – 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: 1.2240
SUP 1: Sgd1.2223 – 21 day moving average
SUP 2: Sgd1.2203 – Low Nov 7
SUP 3: Sgd1.2187 – 21 day lower Bollinger band
SUP 4: Sgd1.2153 – 2012 low Oct 22 2012
EasyForexNews Research Team