AUD/USD: Dip Back To $1.0290 Favoured. The AUD/USD continues to fail ahead of the Oct 18 highs with a close above needed to see a bullish focus maintained that has potential for a retest of Sept monthly highs. The 21 day upper Bollinger has turned higher but closes above are rare. Recent repeated topside failures increase the risk of a retest of the key $1.0290 support level.
RES 4: $1.0518 – High Sept 21
RES 3: $1.0472 – High Sept 28
RES 2: $1.0424 – 21 day upper Bollinger band
RES 1: $1.0411 – High Oct 18
LATEST PRICE: 1.0377
SUP 1: $1.0326 – Low Oct 30
SUP 2: $1.0290 – Alternating support/resistance
SUP 3: $1.0160 – 21 day lower Bollinger band
SUP 4: $1.0105 – 50% retracement of $0.9584-$1.0624 move
NZD/USD: Dip Back To Oct Monthly Lows Favoured. The pair has paused ahead of the initial resistance in the $0.8240-65 region once again with a close above needed to retain topside focus. Stops are noted above the Oct 5 highs but with the 21 day upper Bollinger at $0.8239 it should be noted that closes above are rare. Topside hesitation is now hinting at a dip back to the Oct monthly low.
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: $0.8241 – High Oct 25
LATEST PRICE: 0.8226
SUP 1: $0.8160 – Hourly support Oct 25
SUP 2: $0.8103 – Monthly low Oct 23
SUP 3: $0.8083 – Double daily bottom Sept 10 & 11
SUP 4: $0.8013 – 38.2% retracement of $0.7461-0.8356 move
AUD/JPY: Aug Monthly Highs Continue To Cap. The Aug monthly highs remain key for AUD/JPY with stops noted above. The 21 day upper Bollinger (Jpy83.68) continues to head higher with a close above Aug 21 highs expected to see spikes above re-commence. While Aug monthly highs cap and overbought daily techs correct, there is an increased risk of a dip back to the Oct 22 lows.
RES 4: Jpy87.57 – High Mar 27
RES 3: Jpy86.81 – High Apr 2
RES 2: Jpy84.81 – High Apr 13
RES 1: Jpy83.56 – Monthly high Aug 21
LATEST PRICE: 82.81
SUP 1: Jpy81.99 – Low Oct 30
SUP 2: Jpy81.65 – Low Oct 22
SUP 3: Jpy81.26 – Previous daily resistance now support
SUP 4: Jpy79.42 – Monthly low Oct 8
USD/KRW: Falling Channel Base Is Our Guide. Fresh 2012 lows once again for USD/KRW as oscillation around the falling 21 day lower Bollinger (Krw1091.6) continues. At present we will continue to target the falling daily channel base which currently comes in around the mid Aug 2011 lows (Krw1060). Key topside levels remain the 21-DMA and then the Krw1124.8 resistance level.
RES 4: Krw1124.8 – Previous key daily support now resistance
RES 3: Krw1117.4 – High Oct 11
RES 2: Krw1105.9 – 21 day moving average
RES 1: Krw1099.8 – High Oct 26
LATEST PRICE: 1090.4
SUP 1: Krw1089.7 – 2012 low Oct 30
SUP 2: Krw1071.6 – Falling daily channel base
SUP 3: Krw1060.4 – Monthly low Sept 2
SUP 4: Krw1048.3 – 2011 low Aug 1
USD/SGD: While 21-DMA Caps Focus Remains Lower. USD/SGD appears content to trade sideways with the 21-DMA capping and the recent 2012 lows supporting. While the pair remains capped by the 21-DMA focus remains on fresh 2012 lows and the falling daily channel base. Topside a close above the falling daily channel top hints at an end to the current down trend while above Sept 26 highs confirms.
RES 4: Sgd1.2372 – High Sept 11
RES 3: Sgd1.2339 – High Sept 26
RES 2: Sgd1.2265 – Falling daily channel top from June 1 highs
RES 1: Sgd1.2239 – 21 day moving average
LATEST PRICE: 1.2203
SUP 1: Sgd1.2190 – Low Oct 30
SUP 2: Sgd1.2153 – 2012 low Oct 22 2012
SUP 3: Sgd1.2049 – Low Sept 6 2011
SUP 4: Sgd1.1964 – Falling daily channel base
EasyForexNews Research Team