AUD/USD: Dips Below 21-DMA. The AUD/USD managed a dip below the 21-DMA ($1.0383) and currently trades inside the Ichimoku cloud. While the pair remains capped by the Sept 18 high, immediate focus remains on the 200-DMA and then the Sept monthly lows below. Daily RSI, Slow Stochastic and Momentum studies continue to correct from overbought levels and weigh on the pair.
RES 4: $1.0624 – High Sept 18
RES 3: $1.0588 – 21 day upper Bollinger band
RES 2: $1.0496 – High Sept 18
RES 1: $1.0441 – Ichimoku cloud top
LATEST PRICE: $1.0436
SUP 1: $1.0368 – Low Sept 20
SUP 2: $1.0334 – 200 day moving average
SUP 3: $1.0276 – Low Sept 7
SUP 4: $1.0165 – Low Sept 5
NZD/USD: Daily Tech Studies Starting To Correct. Kiwi needs to break above the Sept 14 high to fresh 6-month highs to kick start overbought daily tech studies that are currently weighing. The $0.8170 support is the level to watch with a close below shifting immediate focus to a test of the 200-DMA. Above Sept 14 highs sees focus return to retests of 2012 highs and the rising daily channel top.
RES 4: $0.8568 – Monthly high Aug 2011
RES 3: $0.8469 – 2012 high Feb 2012
RES 2: $0.8353 – High Sept 14
RES 1: $0.8303 – High Sept 17
LATEST PRICE: $0.8291
SUP 1: $0.8210 – Low Sept 20
SUP 2: $0.8170 – Low Sept 12
SUP 3: $0.8083 – Low Sept 10/11
SUP 4: $0.8032 – 200 day moving average
AUD/JPY: Correction Lower Underway. The move back towards Sept monthly lows continues as the pair dips below the 21-DMA (Jpy81.40) and remains below the Ichimoku cloud top (Jpy81.97). The 100-DMA remains the immediate focus with a close below seeing focus firmly on Sept monthly lows. Layers of resistance are noted in the Jpy82.99-56 region
RES 4: Jpy84.81 – High April 13
RES 3: Jpy83.56 – Monthly high Aug 21
RES 2: Jpy82.99 – 21 day upper Bollinger band
RES 1: Jpy81.85 – Previous support now resistance
LATEST PRICE: Jpy81.61
SUP 1: Jpy80.99 – Low Sept 20
SUP 2: Jpy80.68 – 100 day moving average
SUP 3: Jpy79.94 – 21 day lower Bollinger band
SUP 4: Jpy79.56 – Monthly low July 25
USD/SGD: Narrow Range Trading Continues. USD/SGD continues to trade sideways as daily tech studies slowly begin to correct from oversold levels. Until these studies are back at more neutral levels, the risk of a bounce back to the Sept 10 highs remains, with above then seeing focus return to retests of the falling daily trend channel top coming in around Sgd1.2455 today.
RES 4: Sgd1.2455 – Falling channel top from June 1 high
RES 3: Sgd1.2389 – 21 day moving average
RES 2: Sgd1.2371 – High Sept 10
RES 1: Sgd1.2312 – High Sept 13
LATEST PRICE: Sgd1.2234
SUP 1: Sgd1.2175 – Low Sept 14 2012
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