AUD/USD continues to pause ahead of the Ichimoku cloud base and the Aug 19 high with the pair dipping back towards the $0.9063-74 support region. We continue to look for a close back below the 21-DMA to signal a false break higher this week and shift focus back to the $0.8850-95 support region. Initial resistance is noted on the hourly timeframe at the $0.9154 level but needs to close above the Aug 19 high to confirm bullish focus and $0.9315-43 target.
R 4: $0.9315 – High July 24
R 3: $0.9232 – High Aug 19
R 2: $0.9187 – High Sept 4
R 1: $0.9154 – Hourly resistance Sept 5
Latest price: $0.9121
S 1: $0.9074 – Breakout level Sept 4
S 2: $0.9063 – 21 day moving average
S 3: $0.8975 – Low Sept 3
S 4: $0.8894 – Low Aug 30
The move higher in the NZD/USD has pulled back from ahead of the Ichimoku cloud base ($0.7938) and the somewhat pivotal $0.7937 resistance. A close above $0.7937 is needed to see focus ratchet higher to the layers of resistance in the $0.8160-0.8211 region with the 200-DMA noted at $0.8191 and the kiwi last trading above the 200-DMA in early May. Back below the $0.7840 breakout level is needed to relieve the immediate bullish pressure.
R 4: $0.8056 – Daily support/resistance
R 3: $0.8024 – 100 day moving average
R 2: $0.8000 – Daily support/resistance
R 1: $0.7937 – Daily support/resistance
Latest price: $0.7884
S 1: $0.7840 – Breakout level Sept 4
S 2: $0.7775 – Low Sept 3
S 3: $0.7730 – Low Aug 30
S 4: $0.7685 – 2013 Low June 24
AUD/NZD has pulled back from above the Ichimoku cloud base (NZ$1.1586) after the pair popped into the cloud Wednesday for the first time since early April. With the 21-DMA coming in just below the Sept 2 low we will now look for a close back below this level to see focus shift away from tests of the NZ$1.1748 July 11 high, and back to the NZ$1.1185-1.1265 support region. Initial resistance is noted on the hourly time frame at NZ$1.1633
R 4: NZ$1.1764 – 100 day moving average
R 3: NZ$1.1748 – High July 11
R 2: NZ$1.1658 – High Sept 4
R 1: NZ$1.1633 – Hourly resistance Sept 4
Latest price: NZ$1.1560
S 1: NZ$1.1526 – Hourly breakout level Sept 3
S 2: NZ$1.1482 – Low Sept 2
S 3: NZ$1.1458 – 21 day moving average
S 4: NZ$1.1361 – Low Aug 21
An inside day for USD/KRW combined with oversold daily slow stochastic, momentum and RSI studies are hinting at a bounce back towards the Krw1105.1-1108.4 resistance region. A close back above the Krw1108.4 that previously supported is needed to confirm a break back above the 200-DMA and relieve the immediate bearish focus with immediate focus then shifting to tests of the Krw1127.8-1130.1 region.
R 4: Krw1127.8 – High Aug 2
R 3: Krw1120.8 – 100 day moving average
R 2: Krw1108.4 – Daily support now resistance
R 1: Krw1105.1 – 200 day moving average
Latest price: Krw1098.4
S 1: Krw1091.1 – Low Sept 4
S 2: Krw1081.6 – Low Feb 28
S 3: Krw1077.0 – Low Feb 20
S 4: Krw1071.2 – Daily support/resistance