AUD/USD: Dips Below 200-DMA. The AUD/USD managed a brief dip below the 200-DMA but we continue to look for a close below to ensure the current focus remains on retests of the Sept 5 lows. Back above the Sept 25 highs is needed to remove the immediate downside pressure with a close above Sept 21 highs needed to shift focus back to retests of Sept monthly highs.
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: 1.0367
SUP 1: $1.0342 – 200 day moving average
SUP 2: $1.0276 – Low Sept 7
SUP 3: $1.0228 – 38.2% retracement of $0.9584-$1.0624 move
SUP 4: $1.0165 – Low Sept 5
NZD/USD: Bounces From Double Daily Bottom. With support starting to build and another double daily bottom in place for the Kiwi, the bounce to session highs to end Wednesday helps relieve the downside pressure a little. Topside we look for a close above the Sept 25 highs to return focus to retests of the Sept monthly highs. For now focus remains on a break lower.
RES 4: $0.8469 – 2012 high Feb 2012
RES 3: $0.8408 – 21 day upper Bollinger band
RES 2: $0.8353 – High Sept 14
RES 1: $0.8283 – High Sept 25
LATEST PRICE: 0.8242
SUP 1: $0.8186 – Double daily bottom Sept 24 & 26
SUP 2: $0.8083 – Double daily bottom Sept 10 & 11
SUP 3: $0.8044 – 200 day moving average
SUP 4: $0.8013 – 38.2% retracement of 0.7461-0.8353 move
AUD/JPY: Dips Below Ichimoku Cloud Base. AUD/JPY managed its first dip below the Ichimoku cloud base (Jpy80.62) since late June as well as closing just below the 100-DMA. Current focus remains on retests of the Sept monthly lows with the falling daily channel base then becoming the moving target for lower levels. The lower 21 day Bollinger may slow the move lower and is initial support.
RES 4: Jpy83.10 – High Sept 14
RES 3: Jpy82.30 – High Sept 21
RES 2: Jpy81.49 – High Sept 25
RES 1: Jpy80.86 – High Sept 26
LATEST PRICE: 80.59
SUP 1: Jpy79.88 – 21 day lower Bollinger band
SUP 2: Jpy79.56 – Monthly low July 25
SUP 3: Jpy79.37 – Falling daily channel base from Aug 21 high
SUP 4: Jpy78.10 – Low June 12
USD/KRW: Sideways Trading To Continue. Oversold daily tech studies slowly correct from oversold levels as USD/KRW continues to trade sideways within the recent Krw1112.8-1124.8 range. 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: Krw1139.5 – 200 day moving average
RES 2: Krw1135.0 – Ichimoku cloud base
RES 1: Krw1124.8 – Previous key daily support now resistance
LATEST PRICE: 1121.1
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: Krw1089.9 – Falling daily channel base
USD/SGD: Pivotal Resistance Just Above. USD/SGD has paused ahead of the 21-DMA (Sgd1.2345) for the moment as the bounce back towards the pivotal Sept 10 resistance continues. A close above then sees the falling daily channel top come back into focus and then the Sept and Aug monthly highs above. For now, a close back below the Sept 24 support is needed to shift focus lower once more.
RES 4: Sgd1.2556 – Monthly high Aug 28
RES 3: Sgd1.2507 – Monthly high Sept 3
RES 2: Sgd1.2426 – Falling daily channel top from June 1 highs
RES 1: Sgd1.2371 – High Sept 10
LATEST PRICE: 1.2321
SUP 1: Sgd1.2308 – Hourly support Sept 26
SUP 2: Sgd1.2223 – Low Sept 24 2012
SUP 3: Sgd1.2175 – Low Sept 14 2012
SUP 4: Sgd1.2133 – Low Sept 9 2011
EasyForexNews Research Team