AUD/USD: Bounce Fails Ahead Of Initial Resistance. The bounce from the Oct 8 lows remained capped by the 100-DMA overnight ($1.0259), coming in just ahead of the double daily top at $1.0274. A close above the $1.0274 level is needed to remove the immediate downside pressure while a close above the 200-DMA would see immediate focus turn to retests of Sep 28 highs.
RES 4: $1.0401 – High Oct 1
RES 3: $1.0345 – 200 day moving average
RES 2: $1.0323 – Hourly resistance Oct 2
RES 1: $1.0274 – Double daily top Oct 4 & 5
LATEST PRICE: 1.0237
SUP 1: $1.0150 – Low Oct 8
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: Fresh 4 Week Lows. Fresh 4 week lows for the Kiwi overnight as spikes below the 21 day Bollinger band begin ($0.8154) and keep the focus firmly on retests of the $0.8060-85 region with the rising daily channel base now noted around $0.8077. A close below this region sees immediate focus turn to retests of Sept monthly lows. Oct 5 highs remain key topside.
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: $0.8246 – 21 day moving average
LATEST PRICE: 0.8174
SUP 1: $0.8148 – Low Oct 10
SUP 2: $0.8083 – Double daily bottom Sept 10 & 11
SUP 3: $0.8067 – 200 day moving average
SUP 4: $0.8007 – 100 day moving average
AUD/USD: Spikes Below Lower Bolli Favoured. AUD/JPY is hesitating a little ahead of the falling 21 day lower Bollinger band, the June 25 lows (Jpy79.33) with stops expected below. Topside the pair needs to close above the 21-DMA to relieve the immediate downside pressure and see focus turn to retests of the Jpy83.10-60 region.
RES 4: Jpy82.30 – High Sept 21
RES 3: Jpy82.10 – 200 day moving average
RES 2: Jpy81.49 – High Sept 25
RES 1: Jpy81.07 – 21 day moving average
LATEST PRICE: 80.06
SUP 1: Jpy79.31 – 21 day lower Bollinger band
SUP 2: Jpy79.03 – Falling daily channel base from Aug 21 high
SUP 3: Jpy78.10 – Low June 12
SUP 4: Jpy74.51 – Low June 1
USD/KRW: Bouncing Back Towards 21-DMA. USD/KRW has bounced back towards the initial resistance at the 21-DMA but the Krw1124.8 level remains key topside. Daily tech studies are correcting from modestly oversold levels and may provide additional support on dips. While Krw1124.8 caps immediate focus remains on retests of the Oct 31 2011 lows.
RES 4: Krw1137.5 – 200 day moving average
RES 3: Krw1131.9 – Ichimoku cloud base
RES 2: Krw1124.8 – Previous key daily support now resistance
RES 1: Krw1117.0 – 21 day moving average
LATEST PRICE: 1114.6
SUP 1: Krw1107.4 – 21 day lower Bollinger band
SUP 2: Krw1106.1 – Low Oct 5 2012
SUP 3: Krw1100.2 – Low Oct 31 2011
SUP 4: Krw1082.4 – Falling daily channel base
USD/SGD: Falling Daily Channel Top Remains Key. USD/SGD continues to tread water as layers of resistance remain just above market in the Sgd1.2339-1.2371 region. Overall a close above the falling daily channel top around Sgd1.2345 is needed to end the downtrend that has been in play since early June with a close above Sept 10 highs adding confirmation. Above sees the 200-DMA targeted.
RES 4: Sgd1.2507 – Monthly high Sept 3
RES 3: Sgd1.2371 – High Sept 10
RES 2: Sgd1.2345 – Falling daily channel top from June 1 highs
RES 1: Sgd1.2339 – High Sept 26
LATEST PRICE: 1.2300
SUP 1: Sgd1.2247 – Low Oct 5
SUP 2: Sgd1.2223 – Low Sept 21 2012
SUP 3: Sgd1.2217 – 21 day lower Bollinger band
SUP 4: Sgd1.2175 – 2012 low Sept 14 2012
EasyForexNews Research Team