AUD/USD dipped into the $0.9221-86 support region with the pair pausing just short of the 100-DMA. Daily tech studies remain O/S but a close back above the $0.9424 level is needed to relieve immediate bearish focus and see the O/S studies correct higher. The $0.9221 Sept 10 low remains key support with a close below seeing overall focus ratchet lower to tests of the $0.8850-95 region.
R 4: $0.9510 – Hourly resistance Nov 7
R 3: $0.9475 – High Nov 8
R 2: $0.9424 – Previous daily support now resistance
R 1: $0.9393 – High Nov 11
Latest price: $0.9296
S 1: $0.9267 – 100 day moving average
S 2: $0.9221 – Low Sept 10
S 3: $0.9195 – 61.8% Fibonacci of $0.8850-0.9754
S 4: $0.9117 – Low Sept 5
The failure to take out or even test the $0.8445 Oct 24 high last week has seen the NZD/USD correct lower with immediate focus firmly on tests of the key layers of support in the $0.9159-95 support region. A close back above the Nov 11 high remains 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: $0.8344 – 21 day moving average
R 1: $0.8288 – High Nov 11
Latest price: $0.8219
S 1: $0.8159 – Low Sept 16
S 2: $0.8084 – 100 day moving average
S 3: $0.8039 – Low Sept 11
S 4: $0.7963 – Low Sept 9
With the NZ$1.1388 level having capped bounces for the past week the AUD/NZD has again dipped back towards key support. A close below the NZ$1.1302 support sees focus shift lower to retests of the NZ$1.1192 monthly low from July 31. 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.
R 4: NZ$1.1527 – Hourly resistance Oct 29
R 3: NZ$1.1466 – 100 day moving average
R 2: NZ$1.1418 – 21 day moving average
R 1: NZ$1.1388 – Previous daily support now resistance
Latest price: NZ$1.1305
S 1: NZ$1.1302 – Low Oct 14
S 2: NZ$1.1277 – 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. A close above the Nov 11 high is now needed to relieve the pressure on the Y92.14-30 support region while a close above the 21-DMA would see focus shift back to the 200-DMA. Below Y92.14 sees focus shift lower to the Y90.11-90.67 support region.
R 4: Y94.65 – 200 day moving average
R 3: Y94.34 – High Oct 24
R 2: Y93.66 – 21 day moving average
R 1: Y93.21 – High Nov 11
Latest price: Y92.60
S 1: Y92.47 – 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
EUR/AUD: The close above the 21-DMA has been followed up with a continuation higher that has taken out and close above both the 55 and 100-DMA’s. The pair is headed for a test of the key A$1.4558 resistance level that capped attempts higher in late Sept and during Oct. A close above this level is needed to break higher and see focus shift to the A$1.4757-1.5028 region. A close below the A$1.4230 level is needed to shift focus lower once more.
R 4: A$1.4757 – Previous daily support now resistance
R 3: A$1.4558 – High Sept 4 & 27
R 2: A$1.4529 – High Oct 29
R 1: A$1.4502 – 21 day upper Bollinger band
Latest price: A$1.4439
S 1: A$1.4280 – 21 day moving average
S 2: A$1.4230 – Low Nov 11
S 3: A$1.4056 – Low Nov 7
S 4: A$1.3874 – 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: Krw1097.4 – 100 day moving average
R 3: Krw1091.1 – Previous daily support now resistance
R 2: Krw1081.1 – Previous daily support now resistance
R 1: Krw1075.9 – 55 day moving average
Latest price: Krw1074.2
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 remains 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 55 and 200-DMA’s 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: Sgd1.2532 – 200 day moving average
Latest price: Sgd1.2492
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
