Lower lows and highs continue with the AUD/USD closing below the 21-DMA on a bearish note in NY. Immediate focus for the pair remains on a test of the $0.9390 Oct 4 low with a test of the $0.9221-86 region targeted overall. A close back above the $0.9585 level remains needed to relieve the immediate bearish focus while a close above the 200-DMA is needed to see overall focus shift higher to the $0.9918 resistance level.
R 4: $0.9679 – Previous daily resistance now support
R 3: $0.9624 – High Oct 25
R 2: $0.9585 – Hourly resistance Oct 28
R 1: $0.9521 – Hourly resistance Oct 29
Latest price: $0.9481
S 1: $0.9390 – Low Oct 4
S 2: $0.9319 – 55 day moving average
S 3: $0.9286 – Low Sept 30
S 4: $0.9263 – 100 day moving average
The move lower in the NZD/USD continued with the pair pausing just ahead of the $0.8158-0.8233 support region with the 200-DMA noted at $0.8183. Below $0.8159 would see focus return to the $0.7685-0.7730 region. A close above the 21-DMA remains needed to relieve the immediate bearish focus while above the $0.8445 level remains needed to see the pair targeting the $0.8555-82 region once more.
R 4: $0.8582 – Monthly high May 1
R 3: $0.8555 – High May 6
R 2: $0.8445 – High Oct 24
R 1: $0.8354 – 21 day moving average
Latest price: $0.8258
S 1: $0.8233 – Low Oct 10
S 2: $0.8202 – Low Oct 2
S 3: $0.8183 – 200 day moving average
S 4: $0.8168 – 55 day moving average
The failure at the NZ$1.1579 level combined with correcting overbought daily tech studies have seen the AUD/NZD close back below the 100-DMA and close in NY looking heavy just above the Ichimoku cloud top. Immediate focus is now on a test of the Oct 24 low with a close back below this level shifting overall focus back to a test of the 2013 low. Above the NZ$1.1579 level is needed to kick start bullish momentum
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 & Oct 28
R 1: NZ$1.1527 – Hourly resistance Oct 29
Latest price: NZ$1.1488
S 1: NZ$1.1482 – Ichimoku cloud top
S 2: NZ$1.1431 – Low Oct 24
S 3: NZ$1.1388 – Low Oct 22
S 4: NZ$1.1345 – Alternating hourly support/resistance
AUD/JPY spiked below the 21-DMA overnight before recovering a little lost ground with initial resistance now noted on the hourly timeframe at Y93.26. A close below the Y92.39 support remains needed to confirm a break of the 21-DMA and see the immediate focus shift to layers of support in the Y90.67-91.40 region. Back above the 200-DMA remains needed to shift focus higher once more.
R 4: Y94.73 – 200 day moving average
R 3: Y94.34 – High Oct 24
R 2: Y93.97 – High Oct 28
R 1: Y93.26 – Hourly resistance Oct 29
Latest price: Y93.06
S 1: Y92.39 – Hourly support Oct 10
S 2: Y92.14 – 38.2% Fibonacci retracement Y86.43-95.67
S 3: Y91.76 – Ichimoku cloud top
S 4: Y91.64 – 55 day moving average
The move higher continues for EUR/AUD with the pair falling just short of the key A$1.4558 resistance level with the 21 day upper Bollinger band capping yesterday’s move. A close above the A$1.4558 level remains needed to see focus ratchet higher to tests of the 2013 high. A close below the A$1.4399 level is now needed to relieve the immediate bullish pressure while a close below the Oct 24 low is needed to confirm a break of the 21-DMA and shift focus lower.
R 4: A$1.5028 – 2013 high Aug 28
R 3: A$1.4757 – Previous daily support now resistance
R 2: A$1.4558 – High Sept 4 & 27
R 1: A$1.4540 – 21 day upper Bollinger band
Latest price: A$1.4495
S 1: A$1.4399 – Low Oct 29
S 2: A$1.4324 – 21 day moving average
S 3: A$1.4268 – Low Oct 24
S 4: A$1.4128 – Low Oct 21
USD/KRW: Correcting oversold daily tech studies may continue to limit the downside until they return to more neutral levels. 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 and re-target the falling daily channel base.
R 4: Krw1085.2 – 55 day moving average
R 3: Krw1083.7 – Falling daily channel top
R 2: Krw1081.1 – Previous daily support now resistance
R 1: Krw1067.6 – 21 day moving average
Latest price: Krw1063.0
S 1: Krw1060.0 – Alternating daily support/resistance
S 2: Krw1054.5 – 2013 low Jan 11
S 3: Krw1048.3 – 2011 low Aug 1
S 4: Krw1046.8 – Falling daily channel base
USD/SGD has bounced from ahead of recent lows as oversold daily tech studies look to correct which may slow the move lower for the time being. 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: Sgd1.2527 – 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: Sgd1.2409
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
