Overbought daily slow stochastic, RSI and momentum indicators are slowly looking to correct with the AUD/USD having pulled back from Wednesday’s high to end the week. A close below the $0.9337 level is needed to relieve the bullish focus while a close below $0.9221 hints at a deeper correction with focus then shifting lower to the $0.8850-95 region once again. Topside, a close above $0.9527 is needed to kick start bullish momentum and focus
R 4: $0.9573 – High June 18
R 3: $0.9527 – High Sept 18
R 2: $0.9482 – Hourly breakdown level Sept 19
R 1: $0.9458 – High Sept 20
Latest price: $0.9371
S 1: $0.9337 – Low Sept 18/100 day moving average
S 2: $0.9280 – Alternating support/resistance
S 3: $0.9221 – Low Sept 10
S 4: $0.9166 – Low Sept 9
With daily tech studies remaining at very overbought levels the NZD/USD managed an inside day Friday as the pair closed back below the sharply rising 21 day upper Bollinger band ($0.8423). Below the Sept 19 low is needed to relieve the immediate bullish focus that is targeting tests of the $0.8676 2013 high from Apr 11, while a close below $0.8159 is needed to shift overall focus lower.
R 4: $0.8555 – High May 6
R 3: $0.8477 – High May 9
R 2: $0.8435 – High Sept 19
R 1: $0.8401 – High Sept 20
Latest price: $0.8347
S 1: $0.8327 – Low Sept 19
S 2: $0.8207 – Low Sept 18
S 3: $0.8182 – 200-DMA/50% Fibonacci retracement
S 4: $0.8159 – Previous daily resistance now support
AUD/NZD: The break below the NZ$1.1338 support confirmed the bearish focus that is currently targeting the 2013 low at NZ$1.1185. A close back above the NZ$1.1286 level is now needed to relieve the immediate bearish focus while a close above the 21-DMA (NZ$1.1467) 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 the 21-DMA.
R 4: NZ$1.1431 – Ichimoku cloud base
R 3: NZ$1.1401 – High Sept 19
R 2: NZ$1.1338 – Previous daily support now resistance
R 1: NZ$1.1286 – High Sept 20
Latest price: NZ$1.1221
S 1: NZ$1.1185 – 2013 low Aug 1
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
EUR/AUD: The bounce from ahead of the July 17 low and Ichimoku cloud base has seen very O/S daily tech studies correct. We continue to look for a close above A$1.4445 to relieve the current bearish focus while above the 21-DMA is needed to see immediate focus shift to tests of the A$1.4766 level and 2013 highs above. A close below the Sept 18 low is now needed to kick start bearish sentiment and retain focus on a break lower to the A$1.3800-75 region.
R 4: A$1.4757 – Previous daily support now resistance
R 3: A$1.4558 – High Sept 4
R 2: A$1.4505 – 21 day moving average
R 1: A$1.4445 – Alternating daily support/resistance
Latest price: A$1.4434
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
After pausing at the 200-DMA hurdle on Thursday, AUD/JPY is dipping back towards the 100-DMA and the Sept 18 low just beneath. Correcting overbought daily tech studies remain a concern and may continue to thwart attempts to head higher this week. The move below Friday’s low to start the week has relieved the immediate bullish focus while a close back below the Y91.56 level remains needed to shift overall focus lower.
R 4: Y95.31 – 21 day upper Bollinger band
R 3: Y94.66 – High June 6
R 2: Y94.48 – 200 day moving average
R 1: Y93.07 – Previous daily support now resistance
Latest price: Y93.02
S 1: Y92.57 – 100 day moving average
S 2: Y92.44 – Low Sept 18
S 3: Y91.90 – Ichimoku cloud top
S 4: Y91.56 – Previous daily resistance now support
Oversold daily tech studies are a concern for USD/KRW with the pair having bounced from the fresh 8 month lows set Thursday. The 21 day lower Bollinger band continues to head sharply lower with tests of the band expected while the Krw1081.1 level caps. A close above Krw1081.1 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: Krw1105.3 – 200 day moving average
R 2: Krw1091.1 – Previous daily support now resistance
R 1: Krw1081.1 – Previous daily support now resistance
Latest price: Krw1080.8
S 1: Krw1070.4 – Low Sept 19
S 2: Krw1066.2 – 21 day lower Bollinger band
S 3: Krw1060.5 – Alternating daily support/resistance
S 4: Krw1054.5 – 2013 low Jan 11
USD/SGD bounced to close back above the 200-DMA and sharply falling 21 day lower Bollinger band ($1.2485) on Friday as very oversold daily slow stochastic, RSI and momentum studies slowly begin to correct. The close above the 200-DMA has relieved the immediate bearish focus that dominated last week, but a close back above the previous daily support at Sgd1.2564 is now needed to shift overall focus higher.
R 4: Sgd1.2649 – Previous daily support now resistance
R 3: Sgd1.2638 – 100 day moving average
R 2: Sgd1.2610 – High Sept 18
R 1: Sgd1.2564 – Previous daily support now resistance
Latest price: Sgd1.2513
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