AUD/USD continues to pause ahead of the 100-DMA with the pair bouncing a little on Wednesday. Daily tech studies remain oversold but a close back above the $0.9424 level is needed to relieve the immediate bearish focus and see the O/S studies correct higher while back above the 21-DMA is needed to shift focus to tests of the 200-DMA. The $0.9221 Sept 10 low remains key support with a close below seeing overall focus ratchet lower.
R 4: $0.9520 – 21 day moving average
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: $0.9351
S 1: $0.9340 – Hourly breakout level Nov 13
S 2: $0.9268 – 100 day moving average
S 3: $0.9221 – Low Sept 10
S 4: $0.9195 – 61.8% Fibonacci of $0.8850-0.9754
After dipping into the $0.8159-95 support region the NZD/USD has bounced from the 200-DMA. A close back above the $0.8305 level 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. Daily tech studies have corrected back to neutral levels and are no longer an issue.
R 4: $0.8445 – High Oct 24
R 3: $0.8414 – High Nov 6
R 2: $0.8339 – 21 day moving average
R 1: $0.8305 – Previous daily support now resistance
Latest price: $0.8278
S 1: $0.8177 – 200 day moving average
S 2: $0.8159 – Low Sept 16
S 3: $0.8089 – 100 day moving average
S 4: $0.8039 – Low Sept 11
Fresh 6 week lows for the AUD/NZD overnight keep the focus firmly on a retest of the 2013 lows. The NZ$1.1388 level remains key resistance with this level having capped repeated attempts higher last week and a close above needed to relieve the immediate bearish focus. A close above the 100-DMA remans needed to end bearish aspirations and see focus shift higher to retests of the Oct monthly high at NZ$1.1579.
R 4: NZ$1.1527 – Hourly resistance Oct 29
R 3: NZ$1.1460 – 100 day moving average
R 2: NZ$1.1415 – 21 day moving average
R 1: NZ$1.1388 – Previous daily support now resistance
Latest price: NZ$1.1286
S 1: NZ$1.1261 – Monthly Low Oct 3
S 2: NZ$1.1192 – 2013 Low July 31
S 3: NZ$1.0936 – Low Oct 24 2008
S 4: NZ$1.0893 – Low Oct 16 2008
AUD/JPY has dipped below the 55-DMA for the first time since breaking above back in early Sept before bouncing a little from ahead of the Y92.14 Fibonacci support. A close above the Nov 11 high remains needed to relieve the pressure on the Y92.14 support 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: Y94.60 – 200 day moving average
R 3: Y94.34 – High Oct 24
R 2: Y93.62 – 21 day moving average
R 1: Y93.21 – High Nov 11
Latest price: Y92.81
S 1: Y92.14 – 38.2% Fibonacci retracement Y86.43-95.67
S 2: Y91.42 – 100 day moving average
S 3: Y91.32 – Hourly support Oct 10
S 4: Y91.05 – 50% Fibonacci retracement Y86.43-95.67
EUR/AUD repeatedly found support at the A$1.4399 level on Wednesday and we now look for a close below to relieve the immediate bullish focus that is targeting a test of the key A$1.4558 resistance level. A close below the 21-DMA is now needed to see overall focus shift lower and back to retests of last week’s A$1.4056 fresh 4 month low. A close above the A$1.4558 level is needed to break higher and see focus shift to the A$1.4757-1.5028 region.
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$1.4474 – Ichimoku cloud base
Latest price: A$1.4410
S 1: A$1.4399 – Low Nov 13
S 2: A$1.4292 – 21 day moving average
S 3: A$1.4230 – Low Nov 11
S 4: A$1.4056 – Low Nov 7
An inside day on Wednesday as the USD/KRW continues to pause ahead of the 55-DMA and falling daily channel top. Initial support remains at the Krw1069.3 level that previously capped with a close below this level seeing the immediate focus return to retests of the Nov 6 low. Daily techs studies are looking to correct from overbought levels and could stifle further attempts to head higher and a close below initial support sees them correct lower
R 4: Krw1096.5 – 100 day moving average
R 3: Krw1091.1 – Previous daily support now resistance
R 2: Krw1081.1 – Previous daily support now resistance
R 1: Krw1075.1 – 55 day moving average
Latest price: Krw1071.2
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 has broken the run of higher highs and lows with the pair dipping back towards initial support and overbought daily tech studies threatening a bearish correction. This may weigh on the pair and limit the topside with an increased risk of a break of the initial support. Back below this level sees the pair targeting the Sgd1.2406 low from Nov 5 with the 21-DMA noted just above.
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: Sgd1.2465
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
