AUD/USD: Focus On Sub-Parity Levels. Initial support is now confirmed at the double daily top from Oct 4 & 5 with multiple hourly failures noted at the $1.0270-75 region and stops now above. The dip below the Sept lows sees initial focus turn to tests of the $0.9983-1.0105 region. Topside the 200-DMA remains somewhat pivotal with a close above needed to shift focus back to the $1.0620-30 region.
RES 4: $1.0401 – High Oct 1
RES 3: $1.0347 – 200 day moving average
RES 2: $1.0323 – Hourly resistance Oct 2
RES 1: $1.0274 – Double daily top Oct 4 & 5
LATEST PRICE: $1.0162
SUP 1: $1.0154 – Low Oct 5
SUP 2: $1.0105 – 50% retracement of $0.9584-$1.0624 move
SUP 3: $0.9983 – 61.8% retracement of $0.9584-$1.0624 move
SUP 4: $0.9922 – Low June 14
NZD/USD: Focus On Key Support Region. Overall focus now remains on a retest of the key $0.8060-80 support region with the 200-DMA and rising daily channel base both falling in this region, and the 100-DMA not far below. Topside a close above Friday’s high is needed to relieve the immediate downside pressure and shift focus back to retests of Sept monthly highs.
RES 4: $0.8469 – 2012 high Feb 2012
RES 3: $0.8356 – Monthly high Sept 28
RES 2: $0.8264 – High Oct 5
RES 1: $0.8238 – 21 day moving average
LATEST PRICE: $0.8176
SUP 1: $0.8154 – Low Oct 5
SUP 2: $0.8083 – Double daily bottom Sept 10 & 11
SUP 3: $0.8062 – 200 day moving average
SUP 4: $0.7989 – 100 day moving average
AUD/JPY: Targeting Daily Channel Base. The spike above the 100-DMA (Jpy80.77) was shortlived on Friday as the pair continues to head towards the falling daily channel base, currently around Jpy79.20. The 21-day lower Bollinger band is now heading lower with spikes below expected but closes below rarely seen. Topside the 21-DMA remains pivotal resistance for now.
RES 4: Jpy82.30 – High Sept 21
RES 3: Jpy82.09 – 200 day moving average
RES 2: Jpy81.49 – High Sept 25
RES 1: Jpy81.24 – 21 day moving average
LATEST PRICE: Jpy80.09
SUP 1: Jpy79.75 – 21 day lower Bollinger band
SUP 2: Jpy79.56 – Monthly low July 25
SUP 3: Jpy79.20 – Falling daily channel base from Aug 21 high
SUP 4: Jpy78.10 – Low June 12
USD/KRW: Spikes Below Lower Bollinger Band. USD/KRW traded at the lowest levels since late Oct 2011 to end the week, dipping below the 21 day lower Bollinger band in the process. The Krw1124.8 level remains pivotal resistance but the 21-DMA is now noted as initial resistance with a close above needed to relieve immediate downside pressure. Spikes below the lower Bollinger band are expected to continue.
RES 4: Krw1138.1 – 200 day moving average
RES 3: Krw1135.5 – Ichimoku cloud base
RES 2: Krw1124.8 – Previous key daily support now resistance
RES 1: Krw1119.3 – 21 day moving average
LATEST PRICE: Krw1111.4
SUP 1: Krw1107.5 – 21 day lower Bollinger band
SUP 2: Krw1106.1 – Low Oct 5 2012
SUP 3: Krw1100.2 – Low Oct 31 2011
SUP 4: Krw1084.9 – Falling daily channel base
USD/SGD: Broad Range Trading To Continue. USD/SGD seems content to trade sideways within the recently defining Sgd1.2223-1.2339 range. A close below Sgd1.2223 will likely see fresh 2012 lows while a close above Sgd1.2339 sees likely sees the falling daily channel top around Sgd1.2380 tested. 21 daily Bollinger bands continue to narrow and also suggest further range trading to start the new week.
RES 4: Sgd1.2507 – Monthly high Sept 3
RES 3: Sgd1.2380 – Falling daily channel top from June 1 highs
RES 2: Sgd1.2371 – High Sept 10
RES 1: Sgd1.2339 – High Sept 26
LATEST PRICE: Sgd1.2296
SUP 1: Sgd1.2223 – Low Sept 21 2012
SUP 2: Sgd1.2204 – 21 day lower Bollinger band
SUP 3: Sgd1.2175 – 2012 low Sept 14 2012
SUP 4: Sgd1.2133 – Low Sept 9 2011
EasyForexNews Research Team