AUD/USD: The 21-DMA confirmed its significance as initial resistance yesterday. A close above the 21-DMA remains needed to relieve the bearish focus that is targeting retests of the $0.9390 level, while a close above the 200-DMA ($0.9705) remains needed to see overall focus shift higher to the $0.9918 May 15 high. Below $0.9390 remains needed to reconfirm bearish focus and see the $0.9221-86 region targeted.
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: $0.9539 – 21 day moving average
Latest price: $0.9509
S 1: $0.9465 – Low Nov 5
S 2: $0.9390 – Low Oct 4
S 3: $0.9343 – 55 day moving average
S 4: $0.9286 – Low Sept 30
NZD/USD: The move higher paused ahead of the 21-DMA yesterday and we will now look for a close above the Oct 25 high to confirm a break of the 21-DMA, shifting immediate focus away from retests of layers of support in the $0.8159-95 region and back to retests of the $0.8445-0.8555 region. Daily tech studies are looking to correct from O/S levels and should provide support on dips with a break higher now looking more likely.
R 4: $0.8541 – Monthly High Oct 22
R 3: $0.8445 – High Oct 24
R 2: $0.8360 – High Oct 25
R 1: $0.8347 – 21 day moving average
Latest price: $0.8367
S 1: $0.8262 – Low Nov 5
S 2: $0.8190 – Low Oct 30
S 3: $0.8181 – 200 day moving average
S 4: $0.8159 – Low Sept 16
After failing at the 100-DMA yesterday the AUD/NZD headed lower, taking out the 21 and 55-DMA’s before pausing just ahead of the rising daily trend line. The pair has broken lower following the release of better than expected Q3 employment data with the immediate focus now on a test of the Oct 14 low. Overall focus shifts to tests of the 2013 low with a close above the 100-DMA needed to negate the current outlook.
R 4: NZ$1.1579 – High Sept 6 & Oct 28
R 3: NZ$1.1554 – 21 day upper Bollinger band
R 2: NZ$1.1527 – Hourly resistance Oct 29
R 1: NZ$1.1494 – 100 day moving average
Latest price: NZ$1.1350
S 1: NZ$1.1345 – Alternating hourly support/resistance
S 2: NZ$1.1302 – Low Oct 14
S 3: NZ$1.1296 – 21 day lower Bollinger band
S 4: NZ$1.1261 – Monthly Low Oct 3
AUD/JPY continues to trade sideways within a Y92.69-93.97 range with a close above needed to see immediate focus turn to tests of the 200-DMA and then Oct monthly highs. The Y92.39-69 support region remains key with a close below seeing focus shift lower to layers of support in the Y90.67-91.40 region. Daily tech studies are looking to correct from O/S levels and may limit any downside follow through.
R 4: Y95.67 – Monthly High Oct 22
R 3: Y94.71 – 200 day moving average
R 2: Y94.34 – High Oct 24
R 1: Y93.97 – High Oct 28
Latest price: Y93.62
S 1: Y92.69 – Low Oct 29
S 2: Y92.39 – Hourly support Oct 10
S 3: Y92.14 – 38.2% Fibonacci retracement Y86.43-95.67
S 4: Y91.69 – Ichimoku cloud top
After pausing ahead of the 21 day upper Bollinger band and the key A$1.4558 resistance level last week EURAUD has corrected lower, taking out 55, 100 and 21-DMA’s and closing below the 21-DMA on Friday. The move lower has seen immediate focus shift to retests of the Oct monthly low with the relatively flat 21 day lower Bollinger band noted just below. Below the A$1.4128 support sees the A$1.3802-74 support region targeted
R 4: A$1.4558 – High Sept 4 & 27
R 3: A$1.4529 – High Oct 29
R 2: A$1.4408 – 100 day moving average
R 1: A$1.4293 – 21 day moving average
Latest price: A$1.4170
S 1: A$1.4128 – Monthly low Oct 21
S 2: A$1.4086 – 21 day lower Bollinger band
S 3: A$1.4079 – Low July 11
S 4: A$1.3874 – Monthly Low July 10
USD/KRW: A close above the 21-DMA remains needed relieve bearish pressure while a close above the Krw1069.3 level is needed to see focus shift higher to layers of resistance in the Krw1081.1-1091.1 region including the falling daily channel top, 55-DMA and alternating daily support/resistance level. A close below the 2013 low is needed to reconfirm bearish focus and re-target the falling daily channel base.
R 4: Krw1091.1 – Alternating daily support/resistance
R 3: Krw1081.1 – Previous daily support now resistance
R 2: Krw1069.3 – Previous daily support now resistance
R 1: Krw1065.3 – 21 day moving average
Latest price: Krw1063.4
S 1: Krw1059.3 – Low Oct 30
S 2: Krw1055.0 – 21 day lower Bollinger band
S 3: Krw1054.5 – 2013 low Jan 11
S 4: Krw1048.3 – 2011 low Aug 1
USD/SGD: A close back below Tuesdays low is now needed to relieve the immediate bullish focus that is targeting a move higher that tests the Sgd1.2529-81 resistance region with the 55 and 200-DMA’s noted in this region. A close back below Tuesday’s low sees the immediate focus return to retests of the Oct monthly low and the May 10 low just below. Daily tech studies have corrected to more neutral levels and are no longer an issue.
R 4: Sgd1.2529 – 200 day moving average
R 3: Sgd1.2496 – High Oct 11
R 2: Sgd1.2464 – High Oct 16
R 1: Sgd1.2444 – High Nov 5
Latest price: Sgd1.2419
S 1: Sgd1.2406 – Low Nov 5
S 2: Sgd1.2330 – Low May 10
S 3: Sgd1.2268 – Monthly low May 9
S 4: Sgd1.2224 – Low Jan 10
