AUD/USD: Focus Turns To Sept Monthly Highs. The close above Friday’s highs sees overall focus turn to retests of the Sept monthly highs. The sharp move higher yesterday paused right on the 21 day upper Bollinger band with spikes above now expected to commence. Initial support is seen on the hourly time frame at $1.0418 but the 21-DMA is now key with a close below needed to shift focus lower once more.
RES 4: $1.0624 – High Sept 14
RES 3: $1.0518 – High Sept 21
RES 2: $1.0472 – High Sept 28
RES 1: $1.0448 – 21 day upper Bollinger band
LATEST PRICE: 1.0439
SUP 1: $1.0418 – Hourly support Nov 6
SUP 2: $1.0325 – 21 day moving average
SUP 3: $1.0290 – Alternating support/resistance
SUP 4: $1.0202 – 21 day lower Bollinger band
NZD/USD: Spikes Above Upper Bollinger Recommence. The $0.8230-40 region remains key support for the Kiwi with the short term daily rising trend line falling in this region. The 21-day upper Bollinger band appears to be slowing the move higher but oscillation around the band is expected to continue with focus back on the Sept monthly highs until a close below Nov 6 lows is seen.
RES 4: $0.8568 – Monthly high Aug 31 2011
RES 3: $0.8469 – 2012 high Feb 29 2012
RES 2: $0.8356 – Monthly high Sept 28
RES 1: $0.8287 – High Nov 2
LATEST PRICE: 0.8287
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: Fresh 6 Month Highs Refocus Topside. The spike and marginal close above the Nov 2 highs sees immediate focus return to tests of the Apr 13 highs with a close back below the Nov 5 support needed to negate this view. The 21 day upper Bollinger comes in around Jpy84.36 today with spikes above now expected to recommence. The Jpy81.26-00 region is now seen as key support.
RES 4: Jpy87.57 – High Mar 27
RES 3: Jpy86.81 – High Apr 2
RES 2: Jpy84.81 – High Apr 13
RES 1: Jpy84.36 – 21 day upper Bollinger band
LATEST PRICE: 83.89
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/SGD: Stops Expected Below Sgd1.2185. USD/SGD has closed marginally below the 21-DMA which increases the risk of a dip back to the Nov 1 lows. Back below Sgd1.2187 sees the 2012 lows retested with the 21 day lower Bollinger band also noted around this level. Topside a close above the Nov 5 high is needed to confirm the break of the falling trend line and shift immediate focus to Sgd1.2339.
RES 4: Sgd1.2372 – High Sept 11
RES 3: Sgd1.2339 – High Sept 26
RES 2: Sgd1.2297 – 21 day upper Bollinger band
RES 1: Sgd1.2267 – High Nov 5
LATEST PRICE: 1.2223
SUP 1: Sgd1.2226 – 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
USD/KRW: Pressure Remains Despite O/S Techs. With initial resistance now noted at Nov 5 highs USD/KRW needs a close above to relieve the immediate downside pressure that is likely to see fresh 2012 lows and spikes below the lower Bollinger band (Krw1086.2) recommence. Layers of resistance remain in place with plenty of work needed to overcome. The falling channel base remains our guide to lower levels.
RES 4: Krw1117.4 – High Oct 11
RES 3: Krw1109.9 – Previous daily support now resistance
RES 2: Krw1101.9 – 21 day moving average
RES 1: Krw1094.3 – High Nov 5
LATEST PRICE: 1090.3
SUP 1: Krw1089.7 – 2012 low Oct 30
SUP 2: Krw1070.0 – Falling daily channel base
SUP 3: Krw1060.4 – Monthly low Sept 2
SUP 4: Krw1048.3 – 2011 low Aug 1
EasyForexNews Research Team