AUD/USD followed up Wednesday’s bearish key day reversal with a continuation lower that paused just short of the $0.9568 support and the rising daily trend line off the Aug 30 low. Immediate focus remains on a test of the 21-DMA with a break lower ending bullish aspirations and seeing the aussie targeting a test of the $0.9221-86 support region with 55 and 100-DMA’s noted. Above the 200-DMA is needed to refocus higher
R 4: $0.9839 – High May 21
R 3: $0.9791 – Monthly high June 3
R 2: $0.9744 – 200 day moving average
R 1: $0.9679 – Previous daily resistance now support
Latest price: $0.9619
S 1: $0.9568 – Previous hourly resistance now support
S 2: $0.9491 – 21 day moving average
S 3: $0.9481 – Low Oct 15
S 4: $0.9390 – Low Oct 4
Lower high and low for the NZD/USD again yesterday as the pair closes marginally below the 21-DMA ($0.8356). The close below has confirmed the renewed bearish focus with the pair now targeting a test of the layers of support in the $0.8159-0.8233 region with the 200-DMA noted at $0.8184. A close above the $0.8445 level is needed to relieve the bearish pressure and see the pair targeting the $0.8555-82 region once more.
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: $0.8445 – High Oct 24
Latest price: $0.8354
S 1: $0.8321 – Low Oct 24
S 2: $0.8233 – Low Oct 10
S 3: $0.8202 – Low Oct 2
S 4: $0.8184 – 200 day moving average
AUD/NZD spiked and closed above the sharply rising 21 day upper Bollinger band (NZ$1.1488) before pausing just short of the 100-DMA. Initial support is now noted at yesterday’s low with a close below needed to relieve the current bullish pressure. We will continue to look for a close below the NZ$1.1388 level would see overall focus shift lower once more and back to the 2013 low.
R 4: NZ$1.1748 – High July 11
R 3: NZ$1.1658 – Monthly High Sept 4
R 2: NZ$1.1579 – High Sept 6
R 1: NZ$1.1535 – 100 day moving average
Latest price: NZ$1.1508
S 1: NZ$1.1431 – Low Oct 24
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
AUD/JPY continued its retreat from the move above the 200-DMA with the pair pausing ahead of the 21-DMA and rising daily trend line coming in around the same level. Immediate focus remains on a test of the 21-DMA and rising daily trend line with a close below the Y92.39 support need to confirm a break of the 21-DMA and see the immediate focus shift to layers of support in the YY90.67-91.40 region.
R 4: Y96.02 – Previous daily support now resistance
R 3: Y95.67 – High Oct 22
R 2: Y94.74 – 200 day moving average
R 1: Y94.34 – High Oct 24
Latest price: Y93.61
S 1: Y92.90 – 21 day moving average
S 2: Y92.39 – Hourly support Oct 16
S 3: Y92.14 – 38.2% Fibonacci retracement Y86.43-95.67
S 4: Y91.40 – 55 day moving average
EUR/AUD has continued its bounce from the recent lows with a close above the 21-DMA and a spike above the 100-DMA and immediate focus shifting to a test of the Oct 7 high with the 55-DMA noted just below. A close back below yesterday’s low is needed to shift immediate focus back to the recent lows while above the key A$1.4558 resistance level is needed to end bearish aspirations once and for all and see focus return to 2013 highs.
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$1.4381 – 100 day moving average
Latest price: A$1.4336
S 1: A$1.4268 – Low Oct 24
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: The previous bearish pressure has been relieved a little following the bounce from ahead of the 2013 low, correcting oversold daily tech studies and the close above the Krw1060.0 level. A close above the 21-DMA remains 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. A close below the 2013 low is needed to reconfirm bearish focus.
R 4: Krw1088.1 – 55 day moving average
R 3: Krw1086.4 – Falling daily channel top
R 2: Krw1081.1 – Previous daily support now resistance
R 1: Krw1069.3 – 21-DMA / Previous daily support now resistance
Latest price: Krw1063.3
S 1: Krw1054.5 – 2013 low Jan 11
S 2: Krw1049.5 – Falling daily channel base
S 3: Krw1048.3 – 2011 low Aug 1
S 4: Krw1040.1 – Previous daily resistance now support
USD/SGD: Following an inside day for the pair on Thursday it has closed in NY looking heavy once again with immediate focus on a test of the May 10 low. A close back above the Sgd1.2434 level remains needed to relieve the bearish focus that is currently targeting an overall 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: Sgd1.2525 – 200 day moving average
R 3: Sgd1.2496 – High Oct 11
R 2: Sgd1.2464 – High Oct 16
R 1: Sgd1.2434 – High Oct 22
Latest price: Sgd1.2368
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
