After remaining capped on attempts higher at the 21-DMA last week AUD/USD continued its move lower to start the new week and managing a close below the 55-DMA. Immediate focus remains on tests of the layers of support noted in the $0.9221-86 region including the 100-DMA. A close above $0.9424 is now needed to relieve the immediate bearish focus while above the 21-DMA is needed to shift focus higher.
R 4: $0.9537 – 21 day moving average
R 3: $0.9510 – Hourly resistance Nov 7
R 2: $0.9475 – High Nov 8
R 1: $0.9424 – Previous daily support now resistance
Latest price: $0.9363
S 1: $0.9302 – 50.0% Fibonacci retracement of $0.8850-0.9574
S 2: $0.9286 – Low Sept 30
S 3: $0.9267 – 100 day moving average
S 4: $0.9221 – Low Sept 10
The failure to take out or even test the $0.8445 Oct 24 high last week has seen NZD/USD correct lower with immediate focus firmly on tests of the key layers of support in the $0.9159-90 support region. A close back above the Nov 11 high is now needed to relieve the immediate bearish focus while back above last week’s $0.8414 high is needed to shift overall focus higher once more. Below $0.8159 sees focus shift lower to the $0.7685 2013 low.
R 4: $0.8445 – High Oct 24
R 3: $0.8414 – High Nov 6
R 2: $0.8351 – 21 day moving average
R 1: $0.8288 – High Nov 11
Latest price: $0.8253
S 1: $0.8224 – 55 day moving average
S 2: $0.8190 – Low Oct 30
S 3: $0.8179 – 200 day moving average
S 4: $0.8159 – Low Sept 16
The move lower in the AUD/NZD continues to hesitate ahead of the Oct 14 low, with bounces remaining capped ahead of the NZ$1.1388 level that previously supported. A close above the 21-DMA remains needed to relieve the immediate bearish focus while back above the 100-DMA is needed to shift focus to tests of the Oct monthly highs. While the 21-DMA caps initial focus is on a test of the Oct 14 low with overall focus on tests of NZ$1.1192.
R 4: NZ$1.1527 – Hourly resistance Oct 29
R 3: NZ$1.1473 – 100 day moving average
R 2: NZ$1.1421 – 21 day moving average
R 1: NZ$1.1388 – Previous daily support now resistance
Latest price: NZ$1.1329
S 1: NZ$1.1302 – Low Oct 14
S 2: NZ$1.1285 – 21 day lower Bollinger band
S 3: NZ$1.1261 – Monthly Low Oct 3
S 4: NZ$1.1192 – Monthly Low July 31
AUD/JPY: The sharp move lower from ahead of the Y94.34 Oct 24 high continues to hesitate ahead of the 55-DMA, lower 21 day Bollinger band and 38.2% Fibonacci retracement level. The pair bounced a little to end last week but a close above the 21-DMA remains needed to relieve the pressure on the Y92.14-30 support region. Below Y92.14 sees focus shift lower to the Y90.11-90.67 support region.
R 4: Y94.98 – 21 day upper Bollinger band
R 3: Y94.65 – 200 day moving average
R 2: Y94.34 – High Oct 24
R 1: Y93.71 – 21 day moving average
Latest price: Y92.78
S 1: Y92.37 – 55 day moving average
S 2: Y92.14 – 38.2% Fibonacci retracement Y86.43-95.67
S 3: Y91.32 – Hourly support Oct 10
S 4: Y91.05 – 50% Fibonacci retracement Y86.43-95.67
After having traded at fresh 4 month lows last week EUR/AUD has bounced back above the 21-DMA to start the new week with immediate focus shifting to retests of the 100-DMA. We will now look for close below yesterday’s low to see focus shift lower once more. A close above the 100-DMA remains needed to see focus return to tests of the A$1.4529-58 resistance region and the key to further topside remains the A$1.4558 highs from Sept 4 and 27
R 4: A$1.4558 – High Sept 4 & 27
R 3: A$1.4529 – High Oct 29
R 2: A$1.4405 – 100 day moving average
R 1: A$1.4377 – 55 day moving average
Latest price: A$1.4320
S 1: A$1.4230 – Low Nov 11
S 2: A$1.4062 – 21 day lower Bollinger band
S 3: A$1.4056 – Low Nov 7
S 4: A$1.3874 – Monthly Low July 10
USD/KRW has recorded the first break of a resistance level since the pair started the recent move lower breaking below the Krw1108.4 level back in late Aug. The close above the Krw1069.3 level has paused ahead of the 55-DMA and falling daily channel top. We will look for a close above the Kew1081.1 level to confirm a break of these key levels and see focus shift higher to the Krw1091.1 level. A close below Krw1069.3 is needed to shift focus lower.
R 4: Krw1098.2 – 100 day moving average
R 3: Krw1091.1 – Previous daily support now resistance
R 2: Krw1081.1 – Previous daily support now resistance
R 1: Krw1077.4 – 55 day moving average
Latest price: Krw1073.9
S 1: Krw1069.3 – Alternating daily support/resistance
S 2: Krw1059.0 – Low Nov 6
S 3: Krw1054.5 – 2013 low Jan 11
S 4: Krw1048.3 – 2011 low Aug 1
USD/SGD slowly works its way towards the 200-DMA a close below Monday’s low is now needed to ease the current bullish pressure while a close below the Nov 5 low is needed to confirm a break of the 21-DMA and shift focus and back to retests of the Sgd1.2330 level. Topside a close above the Sgd1.2541 level is needed to confirm a break of the 200-DMA and see focus ratchet higher to the 100-DMA at Sgd1.2605.
R 4: Sgd1.2601 -50.0% Fibonacci of 1.2860-1.2342
R 3: Sgd1.2581 – High Sept 30
R 2: Sgd1.2540 – 38.2% Fibonacci of 1.2860-1.2342
R 1: Sgd1.2530 – 200 day moving average
Latest price: Sgd1.2485
S 1: Sgd1.2462 – Low Nov 11
S 2: Sgd1.2406 – Low Nov 5
S 3: Sgd1.2330 – Low May 10
S 4: Sgd1.2268 – Monthly low May 9
