AUD/USD: Lower Levels Remain Favoured. The pair recovered a little lost ground yesterday but currently remains capped at the $1.0370 level and needs to close above Friday’s highs to return focus to retests of Sept monthly highs. Until then a break of the pivotal $1.0290-15 support region remains favoured with a move back to Oct monthly lows the current overall focus.
RES 4: $1.0472 – High Sept 28
RES 3: $1.0438 – 21 day upper Bollinger band
RES 2: $1.0418 – High Nov 2
RES 1: $1.0370 – High Nov 5
LATEST PRICE: 1.0364
SUP 1: $1.0314 – 21 day moving average
SUP 2: $1.0290 – Alternating support/resistance
SUP 3: $1.0189 – 21 day lower Bollinger band
SUP 4: $1.0105 – 50% retracement of $0.9584-$1.0624 move
NZD/USD: $0.8230 Level Key Today. The lower daily high/low following fresh 4 week highs doesn’t bode well for the bulls and we now look for a close below the Nov 6 low to place pressure on the 21-DMA with a break lower favoured. It is worth noting that a short term daily rising trend line off Oct 25 lows also supports around $0.8230 today adding further significance.
RES 4: $0.8469 – 2012 high Feb 2012
RES 3: $0.8356 – Monthly high Sept 28
RES 2: $0.8286 – High Nov 2
RES 1: $0.8267 – 21 day upper Bollinger band
LATEST PRICE: 0.8250
SUP 1: $0.8232 – Low Nov 6
SUP 2: $0.8193 – 21 day moving average
SUP 3: $0.8103 – Monthly low Oct 23
SUP 4: $0.8083 – Double daily bottom Sept 10 & 11
AUD/JPY: Cracks Starting To Appear Topside. Fresh 6 month highs to end last week have been followed up with a lower daily high and low and combined with correcting overbought daily momentum, slow stochastic and RSI studies a correction back towards Oct 30 lows remains favoured. The Jpy81.26-65 region is seen as key support with a close below seeing Oct lows become the focus.
RES 4: Jpy86.81 – High Apr 2
RES 3: Jpy84.81 – High Apr 13
RES 2: Jpy84.20 – 21 day upper Bollinger band
RES 1: Jpy83.82 – High Nov 2
LATEST PRICE: 83.23
SUP 1: Jpy82.96 – Low Nov 5
SUP 2: Jpy81.99 – Low Oct 30
SUP 3: Jpy81.65 – Low Oct 22
SUP 4: Jpy81.26 – Previous daily resistance now support
USD/KRW: Daily Tech Studies Remain Oversold. USD/KRW continues to hover just above 2012 lows as daily RSI and Slow Stochastic studies remain in oversold territory and threaten to impact at some stage. The 21-DMA remains key to relieving immediate downside pressure with a close above not seen since early Sept. A close above the 21-DMA would see focus turn to retests of the key Krw1124.8 resistance.
RES 4: Krw1117.4 – High Oct 11
RES 3: Krw1109.9 – Previous daily support now resistance
RES 2: Krw1102.9 – 21 day moving average
RES 1: Krw1099.8 – High Oct 26
LATEST PRICE: 1090.9
SUP 1: Krw1089.7 – 2012 low Oct 30
SUP 2: Krw1070.7 – Falling daily channel base
SUP 3: Krw1060.4 – Monthly low Sept 2
SUP 4: Krw1048.3 – 2011 low Aug 1
USD/SGD: 21-DMA Now Supporting. USD/SGD broke the falling daily trendline that has been in place for 5 months yesterday, but with the pair failing to close above we now look for a close above yesterday’s high as a confirmation of the break. Initial support is now seen at the 21-DMA but a close below the Nov 1 lows is needed to see fresh 2012 lows become the focus once more.
RES 4: Sgd1.2372 – High Sept 11
RES 3: Sgd1.2339 – High Sept 26
RES 2: Sgd1.2307 – 21 day upper Bollinger band
RES 1: Sgd1.2267 – High Nov 5
LATEST PRICE: 1.2246
SUP 1: Sgd1.2229 – 21 day moving average
SUP 2: Sgd1.2187 – Low Nov 1
SUP 3: Sgd1.2153 – 2012 low Oct 22 2012
SUP 4: Sgd1.2049 – Low Sept 6 2011
EasyForexNews Research Team