A bearish key day reversal for the AUD/USD on Wednesday after the pair marginally traded above the 200-DMA for the first time since mid-April. The pair has paused just ahead of the hourly support from Oct 18 as daily tech studies correct from very overbought levels. Immediate focus is now on a test of the 21-DMA with a break lower ending bullish aspirati ons and seeing the aussie targeting a test of the $0.9221-86 support region with 55 and 100-DMA’s noted.
R 4: $0.9920 – 61.8% Fibonacci retracement $1.0582-0.8850
R 3: $0.9839 – High May 21
R 2: $0.9791 – Monthly high June 3
R 1: $0.9749 – 200 day moving average
Latest price: $0.9620
S 1: $0.9604 – Hourly support Oct 18
S 2: $0.9568 – Previous hourly resistance now support
S 3: $0.9481 – 21 day moving average
S 4: $0.9390 – Low Oct 4
NZD/USD failed to retest Tuesdays fresh 6 month high before correcting sharply lower yesterday as daily tech studies begin to correct from very overbought levels. Immediate focus shifts to a retest of the 21-DMA with a break lower confirming the immediate bearish focus and seeing the overall focus shift to layers of support in the $0.8159-33 region. A close back above the $0.8437 level would hint at further sideways $0.8349-0.8555 trading.
R 4: $0.8676 – 2013 High Apr 11
R 3: $0.8582 – Monthly high May 1
R 2: $0.8555 – High May 6
R 1: $0.8437 – Previous daily support now resistance
Latest price: $0.8392
S 1: $0.8350 – 21 day moving average
S 2: $0.8233 – Low Oct 10
S 3: $0.8202 – Low Oct 2
S 4: $0.8185 – 200 day moving average
AUD/NZD spiked above the sharply rising 21 day upper Bollinger band (NZ$1.1460) before retreating a little, but the immediate focus remains on a test of the 100-DMA while overall focus is on a test of the Sept monthly high. A close back below the NZ$1.1443 support is needed to relieve the immediate bullish focus while back below the NZ$1.1388 level would see overall focus shift lower once more and back to the 2013 low.
R 4: NZ$1.1658 – Monthly High Sept 4
R 3: NZ$1.1579 – High Sept 6
R 2: NZ$1.1535 – 100 day moving average
R 1: NZ$1.1501 – High Oct 23
Latest price: NZ$1.1454
S 1: NZ$1.1443 – Previous daily resistance now support
S 2: NZ$1.1388 – Low Oct 22
S 3: NZ$1.1345 – Alternating hourly support/resistance
S 4: NZ$1.1302 – Low Oct 14
After falling just short of a retest of Tuesday’s high, AUD/JPY corrected sharply lower on Wednesday, breaking back below the 200-DMA and pausing just ahead of the Oct 15 low as daily tech studies correct from O/B levels. Immediate focus now shifts to a test of the 21-DMA with a close below the Y92.39 support confirming a break of the 21-DMA and seeing the immediate focus shift to tests of the layers of support in the Y90.67-91.30 region
R 4: Y96.02 – Previous daily support now resistance
R 3: Y95.67 – High Oct 22
R 2: Y94.75 – 200 day moving average
R 1: Y94.22 – Hourly resistance Oct 23
Latest price: Y93.66
S 1: Y93.29 – Low Oct 15
S 2: Y92.83 – 21 day moving average
S 3: Y92.39 – Hourly support Oct 16
S 4: Y92.14 – 38.2% Fibonacci retracement Y86.43-95.67
After struggling to continue lower with daily techs at very oversold levels EUR/AUD has continued its correction with the pair pausing ahead of the A$1.4384 resistance level with the 100-DMA (A$1.4375) noted just below. A close above the A$1.4384 level remains needed to confirm a break of the 21 and 100-DMA’s and see focus shift higher to the key A$1.4558 resistance level. A close back below initial support is needed to hint at further sideways trading.
R 4: A$1.4757 – Previous daily support now resistance
R 3: A$1.4558 – High Sept 4 & 27
R 2: A$1.4465 – High Oct 7
R 1: A$1.4384 – High Oct 14
Latest price: A$1.4315
S 1: A$1.4260 – Hourly support Oct 23
S 2: A$1.4128 – Low Oct 21
S 3: A$1.3956 – 38.2% Fibonacci retracement of 1.2222-1.5028
S 4: A$1.3874 – Monthly low July 10
USD/KRW has again broken lower, pausing just ahead of the 2013 low, with a test of the falling daily channel base remaining targeted. A close above the Krw1060.0 level is now needed to relieve the immediate bearish focus while back above the 21-DMA is needed to see focus shift higher to layers of resistance in the Krw1081.1-1091.1 region including the falling daily channel top and 55-DMA. Daily tech studies remain in oversold territory.
R 4: Krw1081.1 – Previous daily support now resistance
R 3: Krw1071.6 – 21 day moving average
R 2: Krw1069.3 – Previous daily support now res
R 1: Krw1060.0 – Previous daily support now resistance
Latest price: Krw1058.6
S 1: Krw1054.5 – 2013 low Jan 11
S 2: Krw1050.4 – Falling daily channel base
S 3: Krw1048.3 – 2011 low Aug 1
S 4: Krw1040.1 – Previous daily resistance now support
USD/SGD has bounced a little after again dipping below the sharply falling 21 day lower Bollinger band (Sgd$1.2352). A close back above the Sgd1.2434 level is now needed to relieve the bearish focus that is currently targeting a test of the May monthly low. Overall a close above the Sgd1.2541 level remains needed to confirm a break of the 200-DMA and shift overall focus back to the Sgd1.2649 resistance.
R 4: Sgd1.2496 – High Oct 11
R 3: Sgd1.2469 – 21 day moving average
R 2: Sgd1.2464 – High Oct 16
R 1: Sgd1.2434 – High Oct 22
Latest price: Sgd1.2387
S 1: Sgd1.2330 – Low May 10
S 2: Sgd1.2268 – Monthly low May 9
S 3: Sgd1.2224 – Low Jan 10
S 4: Sgd1.2198 – 2013 Low Jan 2
