AUD/USD traded at fresh 3wk highs after breaking above the previous $0.9458 resistance. We will look for a break back below the 21-DMA ($0.9374) coming in just below Monday’s low to relieve the current bullish focus that is targeting a continuation higher that tests the key $0.9665 level. Overall we continue to look for a close below the $0.9221 support to end bullish aspirations and see focus shift back to retests of the $0.8850-95 region
R 4: $0.9665 – High June 6
R 3: $0.9573 – High June 18
R 2: $0.9527 – High Sept 18
R 1: $0.9512 – 38.2% Fibonacci retracement $1.0582-0.8850
Latest price: $0.9424
S 1: $0.9390 – Low Oct 7
S 2: $0.9365 – Hourly support Oct 3
S 3: $0.9332 – Low Oct 2
S 4: $0.9286 – Low Sept 30
NZD/USD continues to hesitate ahead of the $0.8345-51 region following the brief spike above last Friday. Initial support was confirmed at $0.8272 with it having propped up dips the past two days with the rising 21-DMA noted just below. We will look for a close below the 21-DMA to relieve the immediate bullish focus while back below $0.8159 remains needed to shift overall focus back to the $0.7935-65 support region.
R 4: $0.8477 – High May 9
R 3: $0.8435 – High Sept 19
R 2: $0.8401 – High Sept 20
R 1: $0.8351 – High Oct 4
Latest price: $0.8292
S 1: $0.8272 – Low Oct 7 & 8
S 2: $0.8264 – 21 day moving average
S 3: $0.8202 – Daily low Oct 2
S 4: $0.8183 – 200 day moving average
AUD/NZD: Layers of resistance remain in the NZ$1.1416-77 region with further tests expected until a close back below the NZ$1.1261 Oct 3 low is seen. A close above NZ$1.1477 remains needed to end bearish aspirations, and see overall focus shift higher to the NZ$1.1658 Sept monthly high, with the 100-DMA noted just below at NZ$1.1600. The NZ$1.1261 support remains key, with a close below needed to shift focus back to retests of the 2013 lows.
R 4: NZ$1.1600 – 100 day moving average
R 3: NZ$1.1477 – Previous daily support now resistance
R 2: NZ$1.1442 – Previous daily support now resistance
R 1: NZ$1.1422 – Ichimoku cloud base
Latest price: NZ$1.1359
S 1: NZ$1.1315 – Hourly support Oct 3
S 2: NZ$1.1261 – Low Oct 3
S 3: NZ$1.1195 – Low Oct 1
S 4: NZ$1.1185 – 2013 low Aug 1
AUD/JPY: Tuesday’s bounce failed ahead of the 21-DMA (Y92.36) before pulling back to be little changed from yesterday’s opening level. A close above the Y92.40 level is now needed to confirm a break of the 21-DMA and shift overall focus higher to tests of the 200-DMA (Y94.69). Layers of support remain in the Y90.11-82 region with a close below Y90.11 needed to confirm a break of the 55-DMA and shift overall focus lower to the 2013 low.
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: Y91.34
S 1: Y90.82 – Low Oct 2
S 2: Y90.67 – Low Sept 6
S 3: Y90.37 – 55 day moving average
S 4: Y90.11 – Alternating daily support/resistance
EUR/AUD: The spike below the 21-DMA bounced from ahead of the 100-DMA and Sept 23 low but now needs to close back above the Oct 7 high to relieve the immediate bearish focus that is targeting a retest of the A$1.4170-00 region. Overall the A$1.4558 Sept 4 high remains key resistance with a close above needed to end bearish aspirations and shift focus higher to retests of the 2013 high. Below A$1.4170 would shift focus lower to the A$1.3800-75 region
R 4: A$1.4757 – Previous daily support now resistance
R 3: A$1.4738 – Ichimoku cloud top
R 2: A$1.4558 – High Sept 4
R 1: A$1.4465 – High Oct 7
Latest price: A$1.4391
S 1: A$1.4288 – 100 day moving average
S 2: A$1.4275 – Low Sept 23
S 3: A$1.4197 – Low Sept 18
S 4: A$1.4170 – Low July 17
Following the dip to fresh 9 month lows to start the new week USD/KRW has bounced back towards the 21-DMA which comes in below the key Krw1081.1 resistance level. 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 Krw1101.8-1108.4 region. The falling daily channel base comes in around Krw1060.3 and remains our initial target.
R 4: Krw1105.4 – 200 day moving average
R 3: Krw1091.1 – Previous daily support now resistance
R 2: Krw1081.1 – Previous daily support now resistance
R 1: Krw1077.7 – 21 day moving average
Latest price: Krw1071.2
S 1: Krw1069.3 – Low Oct 8
S 2: Krw1068.0 – 21 day lower Bollinger band
S 3: Krw1060.5 – Alternating daily support/resistance
S 4: Krw1054.5 – 2013 low Jan 11
USD/SGD: Following last week’s failed topside attempts and break below the 200-DMA, dollar-sing continues to pause ahead of the 200-DMA on bounces. We will look for close above the Sgd1.2523 level to confirm a break of the 200-DMA which would then see immediate focus shift higher to the Sept 30 high. While Sgd1.2523 caps a break of the 55-WMA remains favoured that sees the June monthly low tested.
R 4: Sgd1.2610 – High Sept 18
R 3: Sgd1.2581 – High Sept 30
R 2: Sgd1.2551 – 21 day moving average
R 1: Sgd1.2523 – Previous daily support now resistance
Latest price: Sgd1.2496
S 1: Sgd1.2445 – 55 week moving average
S 2: Sgd1.2407 – Monthly low June 7
S 3: Sgd1.2359 – Previous daily resistance now support
S 4: Sgd1.2268 – Monthly low May 9