AUD/USD: Oversold daily techs studies correcting. Very O/S daily tech studies have come into play with the pair bouncing back towards the 100 week MA ($1.0298) and the Ichimoku cloud top ($1.0314). For now the Aug 30 high remains our pivot point with a close above seeing focus return to retests of the Aug 23 highs, but until then, initial focus remains on retests of July monthly lows and the 50% Fibo.
RES 4: $1.0544 – High Aug 23
RES 3: $1.0444 – High Aug 24
RES 2: $1.0352 – High Aug 30
RES 1: $1.0318 – High Sept 4
LATEST PRICE: 1.0297
SUP 1: $1.0165 – Low Sept 5
SUP 2: $1.0101 – 50% retracement of $0.9584-1.0614 move
SUP 3: $1.0061 – Ichimoku Cloud base
SUP 4: $0.9972 – Low June 25
NZD/USD: Bounces back above Ichimoku cloud top. After dipping below the 100 week MA ($0.7941) earlier in the week the Kiwi has bounced back towards key resistance at $0.8057 with the 21 day MA noted just above ($0.8061). A close above the $0.8057-61 region sees focus shift back to the $0.8180-20 region. Correcting O/S daily tech studies could see the upper Bolli tested.
RES 4: $0.8221 – Monthly high Aug 7
RES 3: $0.8179 – 21 day upper Bollinger band
RES 2: $0.8088 – High Aug 27
RES 1: $0.8057 – High Aug 29
LATEST PRICE: 0.8029
SUP 1: $0.7963 – Hourly support Sept 6
SUP 2: $0.7917 – Low Sept 5
SUP 3: $0.7813 – Monthly low July 25
SUP 4: $0.7790 – Ichimoku cloud base
AUD/JPY: Breaks back above Ichimoku cloud top. The biggest daily rally in over 8 weeks has seen the AUD/JPY fall just short of the Jpy81.33 resistance level with a close above needed to see focus shift back to the Aug monthly highs. Daily tech studies are now correcting from very oversold levels with the pair also having closed back above the Ichimoku cloud top (Jpy80.97).
RES 4: Jpy84.04 – 21 day upper Bollinger band
RES 3: Jpy83.56 – Monthly high Aug 21
RES 2: Jpy82.12 – High Aug 24
RES 1: Jpy81.33 – Hourly resistance Aug 30
LATEST PRICE: 81.17
SUP 1: Jpy80.60 – Hourly breakout level
SUP 2: Jpy79.56 – Monthly low July 25
SUP 3: Jpy79.33 – Low June 25
SUP 4: Jpy78.49 – Ichimoku cloud base
USD/KRW: Focus returns to key support. Following Wednesday’s topside stop take out, USD/KRW has dipped back towards key support at Krw1124.8. Overall while the 200 day MA caps, a bearish bias remains that should see key support and then 2012 lows come into play. Daily tech studies are correcting from modestly lofty levels and would support a move lower before becoming an issue.
RES 4: Krw1165.1 – High June 28
RES 3: Krw1158.1 – High July 12
RES 2: Krw1141.9 – Ichimoku cloud base
RES 1: Krw1141.3 – 200 day moving average
LATEST PRICE: 1133.3
SUP 1: Krw1124.8 – Low Aug 9
SUP 2: Krw1122.0 – 100 week moving average
SUP 3: Krw1112.8 – 2012 Low Mar 2
SUP 4: Krw1092.5 – Low Sept 14
USD/SGD: 2012 lows the overall focus. USD/SGD looks like retesting the lower end of the month long Sgd1.2400-1.2556 range with a retest of the 2012 lows now favoured overall until a close back above Sept 3 highs is seen. Back above Sept 3 highs sees the focus shift back to Sgd1.2400-1.2556 range trading. Daily techs studies are breaking lower with plenty of room to move.
RES 4: Sgd1.2644 – High July 25
RES 3: Sgd1.2604 – 100 day moving average
RES 2: Sgd1.2556 – High Aug 28
RES 1: Sgd1.2507 – High Sept 3
LATEST PRICE: 1.2478
SUP 1: Sgd1.2400 – Monthly low Aug 6
SUP 2: Sgd1.2349 – 2012 Low April 30
SUP 3: Sgd1.2324 – Low Sept 13 2011
SUP 4: Sgd1.2283 – Low Sept 12 2011
EasyForexNews Research Team