AUD/USD: Choppy Trading To Continue. The AUD/USD continues to trade in a choppy fashion and needs to manage close above the Nov 20 highs to re-ignite topside focus. While the Nov 20 high caps and Bollinger bands narrow the pair could be headed for more$1.0290-1.0420 sideways trading to end the week. Below the $1.0290 level sees the Oct monthly lows become the overall focus.
RES 4: $1.0518 – High Sept 21
RES 3: $1.0480 – High Nov 7
RES 2: $1.0445 – 21 day upper Bollinger band
RES 1: $1.0423 – High Nov 20
LATEST PRICE: 1.0367
SUP 1: $1.0359 – Low Nov 20
SUP 2: $1.0317 – 21 day lower Bollinger band
SUP 3: $1.0238 – Low Oct 23
SUP 4: $1.0150 – Monthly low Oct 8
NZD/USD: Dips Below Lower Bollinger Expected. The pair has again pulled back from the $0.8188-32 resistance region with the 21-DMA noted at $0.8188. While this region caps focus remains on retests of the 200-DMA with a close below not seen since early Sept. Topside a close above $0.8232 is needed to shift focus back to retests of the Sept monthly highs.
RES 4: $0.8307 – Monthly high Nov 7
RES 3: $0.8287 – 21 day upper Bollinger band
RES 2: $0.8232 – Low Nov 6 now resistance
RES 1: $0.8201 – High Nov 20
LATEST PRICE: 0.8138
SUP 1: $0.8089 – 21 day lower Bollinger band
SUP 2: $0.8073 – 200 day moving average
SUP 3: $0.8008 – 100 week moving average
SUP 4: $0.7917 – Monthly low Sept 5
AUD/JPY: Focus Shifts To 2012 Highs. There is no stopping AUD/JPY at the moment with daily and fresh 7 monthly highs continuing despite o/b daily tech studies. The pair has also broken above the rising daily channel top and continues to close above the rising 21 day upper Bollinger band. Focus now shifts to the 2012 highs until a close below Nov 19 lows is seen.
RES 4: Jpy89.63 – High Apr 28 2011
RES 3: Jpy88.64 – 2012 high Mar 19
RES 2: Jpy87.57 – High Mar 27
RES 1: Jpy86.81 – Monthly high Apr 2
LATEST PRICE: 85.55
SUP 1: Jpy84.17 – Low Nov 19
SUP 2: Jpy82.99 – Low Nov 15
SUP 3: Jpy81.99 – Double daily bottom Oct 30 & Nov 9
SUP 4: Jpy81.70 – 21 day lower Bollinger band
USD/KRW: Inside Day Yesterday. An inside day for USD/KRW yesterday following fresh 2012 lows. The 21-DMA continues to guide the pair lower with a close above needed to relieve the constant downside pressure and the 6 month long down trend. While the 21-DMA caps we will continue to use the falling daily channel base as a guide to lower levels.
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: Krw1191.3 – 21 day moving average
LATEST PRICE: 1082.8
SUP 1: Krw1081.0 – 2012 low Nov 20
SUP 2: Krw1062.2 – Falling daily channel base
SUP 3: Krw1060.4 – Monthly low Sept 2
SUP 4: Krw1048.3 – 2011 low Aug 1
USD/SGD: Bouncing Off 21-DMA. The gently rising 21-DMA continues to provide support for USD/SGD with a close above the Nov 16 high needed to kick start topside momentum. We look for a close below the Nov 7 low as confirmation of a break of the 21-DMA which then sees focus return to fresh 2012 lows. For now expect narrow ranges to continue.
RES 4: Sgd1.2383 – 100 day moving average
RES 3: Sgd1.2372 – High Sept 11
RES 2: Sgd1.2339 – High Sept 26
RES 1: Sgd1.2296 – High Nov 16
LATEST PRICE: 1.2248
SUP 1: Sgd1.2230 – 21 day moving average
SUP 2: Sgd1.2203 – Low Nov 7
SUP 3: Sgd1.2191 – 21 day lower Bollinger band
SUP 4: Sgd1.2153 – 2012 low Oct 22 2012
EasyForexNews Research Team