AUD/USD: Initial Resistance Continues To Cap. The Oct 11 highs confirmed their significance as initial resistance overnight with the pair failing just ahead. A break higher sees the 200-DMA as the next hurdle with a close above needed to end the current move lower and return focus to retests of the Sept monthly highs. Correcting oversold daily tech studies are currently seen supporting.
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: $1.0294 – High Oct 11
LATEST PRICE: 1.0266
SUP 1: $1.0254 – 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: Bounces Off Rising Channel Base. The move lower has bounced off the rising daily channel base seen around the $0.8110-15 region today and we will continue to look for a close below the 200-DMA as confirmation of a break of the channel base. Despite the pair remaining heavy, while the channel base remains in play the risk of a bounce back to the 21-DMA remains.
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: $0.8226 – 21 day moving average
LATEST PRICE: 0.8133
SUP 1: $0.8114 – Rising daily channel base off June 2 lows
SUP 2: $0.8083 – Double daily bottom Sept 10 & 11
SUP 3: $0.8073 – 200 day moving average
SUP 4: $0.8031 – 100 day moving average
AUD/JPY: Ichimoku Cloud Base Caps For Now. The move higher was capped at the Ichimoku cloud base overnight which comes in just ahead of the Sept 28 highs. Above Jpy81.26 is needed to see focus return to tests of layers of resistance in the Jpy82.13-83.60 region including the falling daily channel top and 200-DMA. While Jpy81.26 caps overall focus remains on lower levels.
RES 4: Jpy82.30 – High Sept 21
RES 3: Jpy82.13 – 200 day moving average
RES 2: Jpy81.26 – High Sept 28
RES 1: Jpy81.18 – Ichimoku cloud base
LATEST PRICE: 80.97
SUP 1: Jpy79.37 – 21 day lower Bollinger band
SUP 2: Jpy78.97 – Falling daily channel base from Aug 21 high
SUP 3: Jpy78.10 – Low June 12
SUP 4: Jpy74.51 – Low June 1
USD/KRW: Fresh 2012 Lows. USD/KRW traded at fresh lows for 2012 and the lowest level since mid Oct 2011 with spikes below the 21 day lower Bollinger band having resumed. Topside the Krw1124.8 level remains key with a close above needed to confirm a break of the falling daily channel top. Daily tech studies have room to move downside before becoming an issue.
RES 4: Krw1136.6 – 200 day moving average
RES 3: Krw1132.7 – Ichimoku cloud base
RES 2: Krw1124.8 – Previous key daily support now resistance
RES 1: Krw1114.9 – 21 day moving average
LATEST PRICE: 1107.3
SUP 1: Krw1107.0 – 21 day lower Bollinger band
SUP 2: Krw1106.0 – Low Oct 5 2012
SUP 3: Krw1100.2 – Low Oct 31 2011
SUP 4: Krw1081.0 – Falling daily channel base
USD/SGD: 2012 Lows Just Below Market. USD/SGD continues its move lower towards the 2012 lows from Sept 14 as initial resistance is now noted at the Oct 15 highs. The pair continues to spike below the now falling 21 day lower Bollinger band (Sgd1.2207) and oscillation around the lower Bollinger is expected to continue with the falling daily channel base the current downside moving target.
RES 4: Sgd1.2371 – High Sept 10
RES 3: Sgd1.2339 – High Sept 26
RES 2: Sgd1.2326 – Falling daily channel top from June 1 highs
RES 1: Sgd1.2237 – High Oct 15
LATEST PRICE: 1.2203
SUP 1: Sgd1.2192 – Low Oct 16
SUP 2: Sgd1.2175 – 2012 low Sept 14 2012
SUP 3: Sgd1.2049 – Low Sept 6 2011
SUP 4: Sgd1.2035 – Falling daily channel base
EasyForexNews Research Team