AUD/USD: Targeting $1.0540-1.0640 region. The move higher continued as the pair took out the short term falling daily trend line off the Aug monthly highs. Initial focus remains on retests of the $1.0540-1.0640 region with a close back below the 200-DMA ($1.0321) needed to see focus turn lower once more. Daily Slow Stochastic and RSI indicators have room to move topside before becoming an issue.
RES 4: $1.0635 – High Mar 19
RES 3: $1.0614 – High Aug 9
RES 2: $1.0569 – 21 day upper Bollinger band
RES 1: $1.0544 – High Aug 23
LATEST PRICE: 1.0462
SUP 1: $1.0428 – Low Sept 12
SUP 2: $1.0322 – Low Sept 11
SUP 3: $1.0276 – Low Sept 7
SUP 4: $1.0165 – Low Sept 5
NZD/USD: Daily tech studies have room to move topside. Fresh 4 month highs for the Kiwi with spikes above the 21 day upper Bollinger band continuing as the pair fell just short of our initial target at $0.8235. Higher levels remain targeted with focus now on the April monthly highs at $0.8317. Key support is noted at the double daily bottom ($0.8083) with a close below needed to shift focus lower.
RES 4: $0.8467 – 2012 high Feb 2012
RES 3: $0.8317 – Monthly high Apr 13
RES 2: $0.8235 – High April 30
RES 1: $0.8207 – 21 day upper Bollinger band
LATEST PRICE: 0.8198
SUP 1: $0.8170 – Low Sept 12
SUP 2: $0.8083 – Low Sept 10/11
SUP 3: $0.8012 – 200 day moving average
SUP 4: $0.7963 – Hourly support Sept 6
AUD/JPY: Retests 200-DMA. The 200-DMA continues to thwart attempts to break higher with the overnight high coming within 2 pips. A close above the 200-DMA is needed to shift focus to retests of the Aug monthly highs and while we remain below the 200-DMA there is a slight bias to a break of the 100-DMA that is currently supporting.
RES 4: Jpy83.64 – 21 day upper Bollinger band
RES 3: Jpy83.56 – Monthly high Aug 21
RES 2: Jpy82.12 – High Aug 24
RES 1: Jpy81.86 – 200 day moving average
LATEST PRICE: 81.51
SUP 1: Jpy80.75 – 100 day moving average
SUP 2: Jpy80.60 – Hourly breakout level
SUP 3: Jpy79.56 – Monthly low July 25
SUP 4: Jpy79.33 – Low June 25
USD/KRW: Key support continues to be tested. Once again USD/KRW has retested the key Krw1124.8 support level following another spike below the now falling 21 day lower Bollinger band (Krw1127.6). Stops remain below the Krw1120 level with a break lower expected to see the 2012 lows retested with a further break lower targeted overall. Topside the Krw1138-42 region remains key resistance.
RES 4: Krw1165.1 – High June 28
RES 3: Krw1158.1 – High July 12
RES 2: Krw1141.3 – 200 day moving average
RES 1: Krw1138.3 – 21 day upper Bollinger band
LATEST PRICE: 1126.6
SUP 1: Krw1124.8 – Low Aug 9
SUP 2: Krw1122.2 – 100 week moving average
SUP 3: Krw1112.8 – 2012 Low Mar 2
SUP 4: Krw1092.5 – Low Sept 14
USD/SGD: Fresh 12 month lows continue. The USD/SGD move lower continues outpacing the lower 21 day Bollinger band (Sgd1.2317) which suggests we will see consolidation at some stage to allow the lower Bolli band to catch up. The daily momentum indicator is also at historically oversold levels which also may see the pair pause to catch its breath at some stage.
RES 4: Sgd1.2612 – Falling daily trend line from June 1 high
RES 3: Sgd1.2465 – 21 day moving average
RES 2: Sgd1.2436 – High Sept 7
RES 1: Sgd1.2371 – High Sept 10
LATEST PRICE: 1.2288
SUP 1: Sgd1.2271 – Low Sept 11
SUP 2: Sgd1.2133 – Low Sept 9 2011
SUP 3: Sgd1.2002 – Double daily bottom Aug 16/17 2011
SUP 4: Sgd1.1995 – 2011 Low July 27 2011
EasyForexNews Research Team