AUD/USD: Correcting Oversold Daily Tech Studies. The AUD/USD managed to take out the previous double daily top at $1.0274 before failing at the Ichimoku cloud base ($1.0293). Daily tech studies are correcting from oversold levels which may help push the pair back towards the 200-DMA. A close above the 200-DMA is needed to shift focus higher and back to retests of Sept monthly 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: $1.0293 – Ichimoku cloud base
LATEST PRICE: 1.0264
SUP 1: $1.0260 – Hourly support Oct 11
SUP 2: $1.0150 – Low Oct 8
SUP 3: $1.0105 – 50% retracement of $0.9584-$1.0624 move
SUP 4: $0.9983 – 61.8% retracement of $0.9584-$1.0624 move
NZD/USD: An Inside Day, Stops Below $0.8148. An inside day for the Kiwi yesterday following the fresh 4 week lows. Daily tech studies are now in oversold territory which could see the pair remain confined to an $0.8148-0.8244 range for the time being. Overall while the 21-DMA caps focus remains on retests of the 200-DMA. A close above the 21-DMA returns focus to 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: $0.8244 – 21 day moving average
LATEST PRICE: 0.8175
SUP 1: $0.8148 – Low Oct 10
SUP 2: $0.8083 – Double daily bottom Sept 10 & 11
SUP 3: $0.8069 – 200 day moving average
SUP 4: $0.8014 – 100 day moving average
AUD/JPY: 21-DMA Remains Pivotal Resistance. AUD/JPY has corrected back towards the somewhat pivotal 21-DMA as daily tech studies continue to correct from oversold levels. A close above the 21-DMA is needed to shift focus higher and back to retests of the Jpy83.10-60 region. While the 21-DMA caps we will continue to focus on falling daily trendline around Jpy79.00-05.
RES 4: Jpy82.30 – High Sept 21
RES 3: Jpy82.10 – 200 day moving average
RES 2: Jpy81.49 – High Sept 25
RES 1: Jpy81.01 – 21 day moving average
LATEST PRICE: 80.41
SUP 1: Jpy79.25 – 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: Krw1106.1-1124.8 Range To Define. USD/KRW managed a spike above the 21-DMA but we continue to look for a close above as an indication that a retest of the key Krw1124.8 resistance level is likely. The falling daily trend line comes in around Krw1120.9 and a close above the Krw1124.8 level would confirm an end to the current trend. A broad Krw1106.1-1124.8 range is
expected for coming weeks.
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: Krw1116.4 – 21 day moving average
LATEST PRICE: 1113.8
SUP 1: Krw1107.8 – 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 looks like retesting the Oct 5 lows after having failed to make an impact on the Sept 26 highs with the falling daily channel top noted just above. A close above the channel top is needed to end the current downtrend but for now the pair seems content to remain confined to a Sgd1.2247-1.2239 range. A close below Oct 5 lows shifts focus lower.
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: 1.2285
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