AUD/USD pulled back from Wednesday’s high and the sharply rising 21 day upper Bollinger band ($0.9513) on Thursday as daily slow stochastic, RSI and momentum tech studies remain at extremely overbought levels. This may continue to weigh on further attempts higher towards the key $0.9665 level. A close below $0.9337 is needed to relieve the bullish focus while a close below $0.9221 hints at a deeper correction.
R 4: $0.9665 – High June 6
R 3: $0.9573 – High June 18
R 2: $0.9527 – High Sept 18
R 1: $0.9482 – Hourly breakdown level Sept 19
Latest price: $0.9439
S 1: $0.9337 – Low Sept 18
S 2: $0.9280 – Alternating support/resistance
S 3: $0.9221 – Low Sept 10
S 4: $0.9166 – Low Sept 9
AUD/NZD: The break below the NZ$1.1338 support confirms the bearish focus that is currently targeting the 2013 low at NZ$1.1185. A close back above the NZ$1.1338 level is now needed to relieve the immediate bearish focus while a close above the 21-DMA is needed to shift focus higher. The 21 day lower Bollinger band ($1.1307) is heading sharply lower with oscillation around the band expected to continue until the pair can close back above NZ$1.1338.
R 4: NZ$1.1480 – 21 day moving average
R 3: NZ$1.1418 – Ichimoku cloud base
R 2: NZ$1.1401 – High Sept 19
R 1: NZ$1.1338 – Previous daily support now resistance
Latest price: NZ$1.1264
S 1: NZ$1.1185 – 2013 low Aug 11
S 2: NZ$1.0936 – Low Oct 24 2008
S 3: NZ$1.0893 – Low Oct 16 2008
S 4: NZ$1.0654 – 2008 low Oct 10
The move higher for AUD/JPY paused ahead of the 200-DMA as the pair broke above the Y93.57 resistance level. Correcting overbought daily tech studies remain a concern and may continue to thwart attempts to close above the Y94.48-66 region. A close below yesterday’s low is needed to relieve the immediate bullish focus while a close back below the Y91.56 level is needed to shift overall focus lower.
R 4: Y95.93 – 50% Fibonacci retracement of Y105.42-86.43
R 3: Y95.04 – 21 day upper Bollinger band
R 2: Y94.66 – High June 6
R 1: Y94.48 – 200 day moving average
Latest price: Y93.79
S 1: Y93.60 – Hourly support Sept 19
S 2: Y93.07 – Low Sept 19
S 3: Y92.44 – Low Sept 18
S 4: Y91.56 – Previous daily resistance now support
NZD/USD continues to extend gains following the close above the 200-DMA earlier in the week despite daily tech studies remaining extremely overbought. Despite this the overall focus remains on tests of the $0.8676 2013 high from Apr 11. A close below yesterday’s low is needed to relieve the immediate bullish focus.
R 4: $0.8583 – High Apr 30
R 3: $0.8555 – High May 6
R 2: $0.8477 – High May 9
R 1: $0.8435 – High Sept 19
Latest price: $0.8376
S 1: $0.8327 – Low Sept 19
S 2: $0.8207 – Low Sept 18
S 3: $0.8183 – 200 day moving average
S 4: $0.8159 – Previous daily resistance now support
EUR/AUD: The bounce from ahead of the July 17 low has seen very oversold daily tech studies begin to correct and this could see the pair find support on further dips towards the A$1.4165-97 region. We will continue to look for a close above A$1.4445 to relieve the current bearish focus while a close above the 21-DMA is needed to see immediate focus shift to tests of the A$1.4766 level and then the 2013 highs above.
R 4: A$1.4570 – High Sept 4
R 3: A$1.4526 – 21 day moving average
R 2: A$1.4445 – Alternating daily support/resistance
R 1: A$1.4399 – High Sept 12
Latest price: A$1.4345
S 1: A$1.4197 – Low Sept 18
S 2: A$1.4165 – Low July 17
S 3: A$1.4102 – 100 day moving average
S 4: A$1.4023 – 21 day lower Bollinger band
Oversold daily tech studies are a concern for USD/KRW with the pair having bounced a little from the fresh 8 month lows set Thursday. The 21 day lower Bollinger band continues to head sharply lower with oscillation around the band expected while the Krw1081.1 level caps. A close above this level is needed to relieve the immediate bearish focus while back above the Krw1091.1 level is needed to shift focus back to the Krw1105.1-1108.4 region
R 4: Krw1108.4 – Previous daily support now resistance
R 3: Krw1105.2 – 200 day moving average
R 2: Krw1091.1 – Previous daily support now resistance
R 1: Krw1081.1 – Previous daily support now resistance
Latest price: Krw1076.3
S 1: Krw1070.4 – Low Sept 19
S 2: Krw1066.9 – 21 day lower Bollinger band
S 3: Krw1060.5 – Alternating daily support/resistance
S 4: Krw1054.5 – 2013 low Jan 11
USD/SGD has again traded at the lowest level since early June, dipping towards the Sgd1.2407 level. Very oversold daily tech studies combined with closes well below the falling 21 day lower Bollinger band could prompt a bounce back towards the Sgd1.2564 level. We continue to look for a close back above the previous daily support at Sgd1.2564 to relieve the immediate bearish focus with above Sgd1.2649 needed to shift overall focus higher.
R 4: Sgd1.2649 – Previous daily support now resistance
R 3: Sgd1.2610 – High Sept 18
R 2: Sgd1.2564 – Previous daily support now resistance
R 1: Sgd1.2495 – 200 day moving average
Latest price: Sgd1.2460
S 1: Sgd1.2407 – Monthly low June 7
S 2: Sgd1.2359 – Previous daily resistance now support
S 3: Sgd1.2330 – Low May 10
S 4: Sgd1.2268 – Monthly low May 9