AUD/USD: Pressure Shifts Topside. After failing to close below the 200-DMA pressure is on the Sept 25 highs topside, with a close above seeing focus return to tests of the Sept monthly highs so far at $1.0624. The 200-DMA remains key support with a close below needed to see focus turn to tests of the Sept monthy lows. Daily tech studies are at neutral levels and no longer an issue.
RES 4: $1.0624 – High Sept 18
RES 3: $1.0589 – 21 day upper Bollinger band
RES 2: $1.0518 – High Sept 21
RES 1: $1.0460 – High Sept 25
LATEST PRICE: 1.0455
SUP 1: $1.0391 – Hourly support Sept 27
SUP 2: $1.0343 – 200 day moving average
SUP 3: $1.0276 – Low Sept 7
SUP 4: $1.0228 – 38.2% retracement of $0.9584-$1.0624 move
NZD/USD: Push Higher Now Favoured. Immediate focus now shifts to retests of the Sept 14 monthly highs so far with a close above then seeing the 2012 highs become the focus. The rising daily channel top off mid June highs is also targeting a retest of the 2012 highs and with daily tech studies no longer over sold a push higher is now favoured.
RES 4: $0.8568 – Monthly high Aug 31 2011
RES 3: $0.8469 – 2012 high Feb 2012
RES 2: $0.8408 – 21 day upper Bollinger band
RES 1: $0.8353 – High Sept 14
LATEST PRICE: 0.8318
SUP 1: $0.8280 – Hourly support Sept 27
SUP 2: $0.8186 – Double daily bottom Sept 24 & 26
SUP 3: $0.8083 – Double daily bottom Sept 10 & 11
SUP 4: $0.8047 – 200 day moving average
AUD/JPY: 21-DMA Seen As Pivotal Resistance. The dip below the Ichimoku cloud base (Jpy80.83) appears to have been brief with the pair currently capped by the 21-DMA. A close above the 21-DMA is now needed to shift focus back to retests of the Sept 14 highs and then the Jpy84.80-90 region beyond. While the 21-DMA caps the risk of a test of the lower Bollinger band remains.
RES 4: Jpy83.10 – High Sept 14
RES 3: Jpy82.30 – High Sept 21
RES 2: Jpy81.49 – High Sept 25
RES 1: Jpy81.26 – 21 day moving average
LATEST PRICE: 81.13
SUP 1: Jpy80.26 – Low Sept 26
SUP 2: Jpy79.79 – 21 day lower Bollinger band
SUP 3: Jpy79.56 – Monthly low July 25
SUP 4: Jpy79.37 – Falling daily channel base from Aug 21 high
USD/KRW: Range Trading Scenario Remains. USD/KRW dipped back towards the base of the currently defining Krw1112.8-1124.8 range with the 21-DMA also noted capping at Krw1124.8. The 200-DMA remains key topside with a close above needed to shift the overall focus to retests of the 2012 highs. Fresh 2012 lows would then see the falling daily channel base targeted.
RES 4: Krw1158.1 – High July 12
RES 3: Krw1139.3 – 200 day moving average
RES 2: Krw1135.0 – Ichimoku cloud base
RES 1: Krw1124.8 – Previous key daily support now resistance
LATEST PRICE: 1115.2
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: Krw1089.2 – Falling daily channel base
USD/SGD: Potential For Fresh 2012 Lows. After failing ahead of the 21-DMA USD/SGD now looks like retesting the key Sgd1.2223 support level with a close below confirming an end to the move higher and making fresh 2012 lows likely. Below the current 2012 lows sees the falling daily channel base (Sgd1.2151) act as a guide to future targets. Topside above the 21-DMA is needed to refocus higher.
RES 4: Sgd1.2507 – Monthly high Sept 3
RES 3: Sgd1.2426 – Falling daily channel top from June 1 highs
RES 2: Sgd1.2371 – High Sept 10
RES 1: Sgd1.2332 – 21 day moving average
LATEST PRICE: 1.2261
SUP 1: Sgd1.2223 – Low Sept 24 2012
SUP 2: Sgd1.2175 – 2012 low Sept 14 2012
SUP 3: Sgd1.2138 – 21 day lower Bollinger band
SUP 4: Sgd1.2133 – Low Sept 9 2011
EasyForexNews Research Team