AUD/USD: Another Dip Below The 21-DMA. The move towards the 200-DMA continues with the AUD/USD again spiking below the 21-DMA. Initial resistance is now seen at yesterday’s highs but we continue to look for a move above the Sept 21 highs to relieve the immediate downside pressure. Below the 200-DMA sees focus shift lower and to retests of the Sept monthly lows.
RES 4: $1.0624 – High Sept 18
RES 3: $1.0583 – 21 day upper Bollinger band
RES 2: $1.0518 – High Sept 21
RES 1: $1.0460 – High Sept 25
LATEST PRICE: 1.0390
SUP 1: $1.0368 – Low Sept 20
SUP 2: $1.0340 – 200 day moving average
SUP 3: $1.0276 – Low Sept 7
SUP 4: $1.0165 – Low Sept 5
NZD/USD: Sept 12 Support Remains Key. The NZD continues to remain heavy and unable to hold onto rallies with the Sept 12 support remaining key. A close below this level confirms the current focus on a pullback to the 200-DMA with above Sept monthly highs needed to shift focus higher and relieve the current downside pressure.
RES 4: $0.8469 – 2012 high Feb 2012
RES 3: $0.8398 – 21 day upper Bollinger band
RES 2: $0.8353 – High Sept 14
RES 1: $0.8283 – High Sept 25
LATEST PRICE: 0.8216
SUP 1: $0.8170 – Low Sept 12
SUP 2: $0.8083 – Double daily bottom Sept 10 & 11
SUP 3: $0.8041 – 200 day moving average
SUP 4: $0.8013 – 38.2% retracement of 0.7461-0.8353 move
AUD/JPY: Break Of 100-DMA Remains Favoured. AUD/JPY is pausing ahead of the 100-DMA and the Ichimoku cloud base with the pair not having traded below the cloud since late June. A move through this support region remains favoured with the current focus on retests of the Sept monthly lows. Back above the Sept 21 highs is needed to relieve the current downside pressure.
RES 4: Jpy83.56 – Monthly high Aug 21
RES 3: Jpy83.10 – High Sept 14
RES 2: Jpy82.30 – High Sept 21
RES 1: Jpy81.49 – High Sept 25
LATEST PRICE: 81.11
SUP 1: Jpy80.69 – 100 day moving average
SUP 2: Jpy80.62 – Ichimoku cloud base
SUP 3: Jpy79.88 – 21 day lower Bollinger band
SUP 4: Jpy79.56 – Monthly low July 25
USD/KRW: Further Range Trading Favoured. USD/KRW continues to trade sideways within the recent Krw1112.8-1124.8 range as daily tech studies slowly work off their previously oversold condition. A break of the recent range is needed to inject fresh life into the pair but this isn’t expected anytime soon. For now further range trading remains favoured.
RES 4: Krw1158.1 – High July 12
RES 3: Krw1139.7 – 200 day moving average
RES 2: Krw1135.5 – Ichimoku cloud base
RES 1: Krw1124.8 – Previous key daily support now resistance
LATEST PRICE: 1119.2
SUP 1: Krw1112.8 – 2012 Low Mar 2
SUP 2: Krw1110.4 – Low Nov 4 2011
SUP 3: Krw1100.2 – Low Oct 31 2011
SUP 4: Krw1090.6 – Falling daily channel base
USD/SGD: Bounces On Dips Continue. USD/SGD continues to bounce from dips with a test of the Sept 10 highs remaining favoured while the Sept 24 support remains in play. The Sept 10 high is seen as pivotal with a close above needed to shift focus back to retests of the falling daily channel top around Sgd1.2433 and then the 100-DMA and 200-DMA above.
RES 4: Sgd1.2507 – Monthly high Sept 3
RES 3: Sgd1.2433 – Falling daily channel top from June 1 highs
RES 2: Sgd1.2371 – High Sept 10
RES 1: Sgd1.2312 – High Sept 13
LATEST PRICE: 1.2287
SUP 1: Sgd1.2223 – Low Sept 24 2012
SUP 2: Sgd1.2175 – Low Sept 14 2012
SUP 3: Sgd1.2133 – Low Sept 9 2011
SUP 4: Sgd1.2002 – Double daily bottom Aug 16 & 17 2011
EasyForexNews Research Team