AUD/USD dipped to test the 100-DMA to end the. A close below the 100-DMA could be a significant bearish signal, especially when combined with correcting very overbought daily tech studies. O/B daily tech studies have weighed on the pair and a close below the $0.9221 level would also confirm a break of the 21-DMA and remains needed to hint at a deeper correction and shift overall focus back to the $0.8850-95 region.
R 4: $0.9482 – Hourly breakdown level Sept 19
R 3: $0.9458 – High Sept 20
R 2: $0.9420 – Hourly resistance Sept 24
R 1: $0.9401 – High Sept 26
Latest price: $0.9305
S 1: $0.9301 – 100 day moving average
S 2: $0.9272 – 21 day moving average
S 3: $0.9221 – Low Sept 10
S 4: $0.9117 – Low Sept 5
NZD/USD: The bounce to end last week fell short of the $0.8327 previous daily support as daily tech studies continue to slowly correct. Layers of support remain in the $0.8159-0.8207 region with a close below the $0.8159 level to confirm a break of the 200-DMA and shift overall focus back to tests of the 2013 low. The $0.8327-45 region is expected to cap bounces to start the new week with a close above needed to shift focus back to Sept 19 highs.
R 4: $0.8435 – High Sept 19
R 3: $0.8401 – High Sept 20
R 2: $0.8345 – Hourly resistance Sept 24
R 1: $0.8327 – Previous daily support now resistance
Latest price: $0.8254
S 1: $0.8207 – Low Sept 18
S 2: $0.8181 – 200 day moving average
S 3: $0.8159 – Previous daily resistance now support
S 4: $0.8080 – 50% Fibonacci retracement of $0.7724-0.8435
AUD/NZD: The NZ$1.1401 level capped bounces last week before the pair headed lower once more. Immediate focus is on tests of the Sept 20 NZ$1.1215 low with a break lower favoured that takes out the 2013 low and targets tests of the falling 21 day lower Bollinger band. Initial resistance is noted at the NZ$1.1338 level that has previously supported with a close back above this level needed to relieve the immediate bearish focus.
R 4: NZ$1.1442 – Previous daily support now resistance
R 3: NZ$1.1420 – Ichimoku cloud base
R 2: NZ$1.1401 – High Sept 19
R 1: NZ$1.1338 – Previous daily support now resistance
Latest price: NZ$1.1250
S 1: NZ$1.1215 – Low Sept 20
S 2: NZ$1.1185 – 2013 low Aug 1
S 3: NZ$1.1170 – 21 day lower Bollinger band
S 4: NZ$1.0936 – Low Oct 24 2008
AUD/JPY has continued to look heavy following the failure at the 200-DMA earlier in the month and now looks set to test layers of support in the Y90.06-67 region. A close below the Ichimoku cloud top would hint at a deeper correction as focus shifts lower to the Y86.43-87.76 support region. Topside the pair needs to close back above Thursday’s high to relieve the immediate bearish focus while above Sept 23 highs is needed to shift focus higher.
R 4: Y94.09 – High Sept 20
R 3: Y93.56 – High Sept 23
R 2: Y93.01 – High Sept 26
R 1: Y92.40 – Hourly resistance Sept 27
Latest price: Y90.90
S 1: Y90.67 – Low Sept 6
S 2: Y90.41 – 55 day moving average
S 3: Y90.06 – Ichimoku cloud top
S 4: Y89.22 – Ichimoku cloud base
EUR/AUD: The close above the 21-DMA and 55-DMA on Friday paused at the Sept 4 high before dipping a little to end the week. The close above the 21-DMA hints at further topside with a break of the Sept 4 high needed to confirm the renewed bullish focus and see the pair target retests of the 2013 high. A close back below Friday’s low is needed to signal a false break and shift focus back to tests of the A$1.4165-97 support region.
R 4: A$1.4757 – Previous daily support now resistance
R 3: A$1.4690 – 21 day upper Bollinger band
R 2: A$1.4624 – Ichimoku cloud top
R 1: A$1.4558 – High Sept 4
Latest price: A$1.4491
S 1: A$1.4388 – Low Sept 27
S 2: A$1.4275 – Low Sept 23
S 3: A$1.4197 – Low Sept 18/100-DMA
S 4: A$1.4165 – Low July 17
Oversold daily tech studies remain a concern for USD/KRW and may limit any follow through on a break lower. In saying that, a close above Krw1081.1 remains 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. It is worth noting that the falling daily channel top comes in around the Krw1105.4 level and adds significance 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: Krw1075.8
S 1: Krw1070.4 – Low Sept 19
S 2: Krw1065.. – 21 day lower Bollinger band
S 3: Krw1060.5 – Alternating daily support/resistance
S 4: Krw1054.5 – 2013 low Jan 11
USD/SGD continues to pause ahead of initial resistance noted at the Sept 25 high as oversold daily tech studies correct. We continue to look for a close above the Sgd1.2572 level to signal a shift higher in immediate focus to tests of the Sgd1.2636-49 region. A close above Sgd1.264 is needed to shift overall focus back to retests of the Sgd1.2812-60 region with the 2013 high noted at Sgd1.2860 and the 21 day upper Bollinger band just below at Sgd1.2846.
R 4: Sgd1.2649 – Previous daily support now resistance/100-DMA
R 3: Sgd1.2636 – 21 day moving average
R 2: Sgd1.2610 – High Sept 18
R 1: Sgd1.2572 – High Sept 25
Latest price: Sgd1.2563
S 1: Sgd1.2523 – Low Sept 26
S 2: Sgd1.2479 – Low Sept 23
S 3: Sgd1.2407 – Monthly low June 7
S 4: Sgd1.2359 – Previous daily resistance now support