AUD/USD continued its move lower to start the new week after failing at the 21-DMA last week, and extending losses below the 100-DMA. Immediate focus remains on a retest of the Sept 5 low with overall focus firmly on a retest of 2013 lows from early Aug. A close above the 100-DMA is needed to relieve the immediate bearish focus and see focus return to a retest of the $0.9393-0.9447 region where 21 and 55-DMA’s and last week’s highs are located.
R 4: $0.9310 – Hourly resistance Nov 21
R 3: $0.9280 – 100 day moving average
R 2: $0.9255 – Hourly resistance Nov 22
R 1: $0.9207 – Hourly resistance Nov 22
Latest price: $0.9165
S 1: $0.9117 – Low Sept 5
S 2: $0.8975 – Low Sept 3
S 3: $0.8894 – Low Aug 30
S 4: $0.8850 – 2013 Low Aug 5
NZD/USD dipped below the 200-DMA for the first time since mid-Sept before bouncing off the 100-DMA to close above last Friday before managing an inside day to start the new week. Initial resistance remains at Friday’s high with a close above needed to relieve the immediate bearish focus. A close above the 55-DMA is needed to end bearish aspirations and see initial focus return to retests of the $0.8414 level.
R 4: $0.8414 – High Nov 6
R 3: $0.8305 – Hourly resistance Nov 20
R 2: $0.8300 – 55 day moving average
R 1: $0.8243 – High Nov 22
Latest price: $0.8217
S 1: $0.8129 – 100 day moving average
S 2: $0.8084 – Low Sept 12
S 3: $0.8036 – 61.8% Fibonacci retracement of 0.7724-0.8541
S 4: $0.7963 – Low Sept 9
Fresh 2013 lows for the AUD/NZD continued to start the week before the pair bounced to be little changed from Friday’s closing level at the time of writing. The falling 21 day lower Bollinger band comes in around NZ$1.1143 with tests of the lower Bollinger band targeted while the Nov 20 high caps. A close above this level is now needed to relieve the immediate bearish focus while a close above the NZ$1.1388 level is needed to shift focus higher
R 4: NZ$1.1388 – Previous daily support now resistance
R 3: NZ$1.1314 – High Nov 20
R 2: NZ$1.1270 – High Nov 22
R 1: NZ$1.1211 – High Nov 25
Latest price: NZ$1.1144
S 1: NZ$1.1126 – 2013 Low Nov 25
S 2: NZ$1.0936 – Low Oct 24 2008
S 3: NZ$1.0893 – Low Oct 16 2008
S 4: NZ$1.0654 – 2013 Low Oct 10 2008
The bounce in AUD/JPY to start the new week has so far failed at the 21-DMA with immediate focus remaining on retests of the key Y92.34 support. A close below this level is needed to reconfirm the current bearish focus and see the pair targeting a retest of the Y90.11-67 support region. A close above the Nov 21 high is needed to relieve the bearish focus while above the 200-DMA is needed to shift focus higher.
R 4: Y94.49 – 200 day moving average
R 3: Y94.08 – Hourly resistance Nov 20
R 2: Y93.73 – High Nov 21
R 1: Y93.34 – 21 day moving average
Latest price: Y93.07
S 1: Y92.34 – Low Nov 13
S 2: Y92.14 – 38.2% Fibonacci retracement Y86.43-95.67
S 3: Y91.56 – 100 day moving average
S 4: Y91.05 – 50.0% Fibonacci retracement Y86.43-95.67
After having found support around the A$1.4320 level last week the EUR/AUD headed sharply higher, taking out the A$1.4558 level that had previously capped and traded at the highest level since early Sept to start the new week. Immediate focus remains on a retest of the 2013 high with a break above seeing levels targeted that have not been seen since mid-2010. A close below Friday’s low remains needed to relieve the immediate bullish focus.
R 4: A$1.5456 – Monthly High May 21 2010
R 3: A$1.5253 – High May 24 2010
R 2: A$1.5028 – 2013 High Aug 28
R 1: A$1.4842 – High Nov 25
Latest price: A$1.4746
S 1: A$1.4736 – Low Nov 25
S 2: A$1.4573 – Low Nov 22
S 3: A$1.4392 – Low Nov 21
S 4: A$1.4320 – Low Nov 19
After trading at marginal fresh 2013 lows last week USD/KRW bounced to close above the previous initial resistance noted at Krw1059.3 relieving the previous bearish pressure although the failures at the 21-DMA have seen the pair dip once again. Overall a close back above the Nov 14 high is needed to confirm a break of the falling daily channel top and see focus return to the Krw1081.1-1091.1 resistance region.
R 4: Krw1090.1 – 100 day moving average
R 3: Krw1081.1 – Previous daily support now resistance
R 2: Krw1070.2 – High Nov 14
R 1: Krw1064.1 – 21 day moving average
Latest price: Krw1061.6
S 1: Krw1054.9 – 21 day lower Bollinger band
S 2: Krw1054.3 – 2013 low Nov 19
S 3: Krw1048.3 – 2011 low Aug 1
S 4: Krw1029.6 – Falling daily channel base
USD/SGD has failed ahead of the layers of resistance in the Sgd1.2536-41 region to start the new week with the 200-DMA, a daily high and Fibonacci retracement level located in this tight region. A close above is needed to see immediate focus turn to tests of the Sgd1.2581 level with overall focus shifting higher to tests of the Sgd1.2649 level. A close below the Sgd1.2477 level is needed to relieve the current bullish focus
R 4: Sgd1.2610 – High Sept 18
R 3: Sgd1.2581 – 100 day moving average
R 2: Sgd1.2540 – 38.2% Fibonacci of 1.2860-1.2342
R 1: Sgd1.2536 – 200 day moving average
Latest price: Sgd1.2499
S 1: Sgd1.2477 – Hourly support Nov 21
S 2: Sgd1.2452 – 21 day moving average
S 3: Sgd1.2406 – Low Nov 5
S 4: Sgd1.2330 – Low May 10
