AUD/USD: Bounces from Aug 17 lows. The pair has managed to find support ahead of the Aug 17 lows as initial focus remains on retests of the 200 day moving average ($1.0297). Topside the AUD/USD needs to close back above the Aug 14 highs to see focus shift back to retests of 2012 highs. Daily tech studies have worked off their previously overbought condition and are at more neutral levels.
RES 4: $1.0635 – High March 19
RES 3: $1.0627 – 21 day upper Bollinger band
RES 2: $1.0578 – High Aug 10
RES 1: $1.0542 – High Aug 14
LATEST PRICE: 1.0501
SUP 1: $1.0412 – Low Aug 17
SUP 2: $1.0382 – Hourly support July 26
SUP 3: $1.0297 – 200 day moving average
SUP 4: $1.0204 – 100 day moving average
NZD/USD: Watching Aug 8 highs closely. Dips below the rising 21 day moving average ($0.8097) continue with back above the Aug 8 highs needed to see focus swing back to retests of April 30 highs. Focus remains on retests of the 200 and 100 day moving averages seen coming in around the $0.7947-0.7980 region with a break below then targeting July monthly lows.
RES 4: $0.8317 – High April 13
RES 3: $0.8235 – High April 30
RES 2: $0.8166 – High Aug 8
RES 1: $0.8143 – High Aug 21
LATEST PRICE: 0.8107
SUP 1: $0.8038 – Low Aug 15
SUP 2: $0.7992 – Low July 27
SUP 3: $0.7980 – 200 day moving average
SUP 4: $0.7947 – 100 day moving average
AUD/JPY: Aug 13 lows pivotal support. The AUD/JPY has dipped below the 21 day moving average (Jpy82.50) but we now look for a move below the Aug 13 lows to confirm a shift in focus that initially targets the 200 day moving average and then July monthly lows below. We also note the 100 week moving average seen coming in at Jpy82.29 today.
RES 4: Jpy86.81 – High April 2
RES 3: Jpy84.81 – High April 23
RES 2: Jpy84.53 – High April 27
RES 1: Jpy83.56 – High Aug 21
LATEST PRICE: 82.46
SUP 1: Jpy82.24 – Low Aug 13
SUP 2: Jpy81.57 – Low Aug 1
SUP 3: Jpy81.60 – 200 day moving average
SUP 4: Jpy81.28 – Hourly support July 27
USD/KRW: Range trading to continue. It looks as though the pair is content to continue to trade sideways within a Krw1124.8-1137.7 range for the time being. A break higher would see the pivotal 200 day moving average come back into focus while a break lower sees the 2012 lows become the focal point. Daily tech studies remain largely neutral.
RES 4: Krw1158.1 – High July 12
RES 3: Krw1149.6 – Ichimoku cloud base
RES 2: Krw1142.0 – 200 day moving average
RES 1: Krw1137.7 – High Aug 3
LATEST PRICE: 1134.2
SUP 1: Krw1124.8 – Low Aug 9
SUP 2: Krw1121.9 – 100 week moving average
SUP 3: Krw1112.8 – 2012 Low Mar 2
SUP 4: Krw1092.5 – Low Sept 14
USD/SGD: Focus shifts lower. The USD/SGD fell sharply late in the NY session, dipping back below the 21 day moving average in the process as the 21 day upper Bollinger band (Sgd1.2551) continues to fall. Initial focus now shifts lower to retests of the recent Aug monthly lows and then the 2012 lows below that, as daily tech studies now look to turn lower.
RES 4: Sgd1.2680 – 200 day moving average
RES 3: Sgd1.2644 – High July 25
RES 2: Sgd1.2609 – 100 day moving average
RES 1: Sgd1.2549 – High Aug 20
LATEST PRICE: 1.2477
SUP 1: Sgd1.2435 – Low Aug 13
SUP 2: Sgd1.2400 – Low Aug 6
SUP 3: Sgd1.2349 – 2012 Low April 30
SUP 4: Sgd1.2283 – Weekly low Sept 12
EasyForexNews Research Team