AUD/USD: Test Of Key Support Region Likely. The $1.0330-50 region remains key support with a close below expected to see stops triggered and focus turn to tests of the Oct monthly lows. Lower daily lows and highs are increasing the likelihood of a test of key support with a close above Nov 7 highs now needed to relieve the immediate downside pressure. Daily tech studies are also correcting lower.
RES 4: $1.0624 – Monthly high Sept 14
RES 3: $1.0518 – High Sept 21
RES 2: $1.0480 – High Nov 7
RES 1: $1.0442 – High Nov 8
LATEST PRICE: 1.0383
SUP 1: $1.0349 – 21 day moving average
SUP 2: $1.0332 – 200 day moving average
SUP 3: $1.0244 – 21 day lower Bollinger band
SUP 4: $1.0150 – Monthly low Oct 8
NZD/USD: Layers Of Support To Be Tested. Immediate focus remains on retests of the key $0.8080-15 support region with a break below favoured until a close back above the 21-DMA is seen. A break below sees the 100 and 200-DMA’s and Ichimoku cloud base taken out. The 21 day lower Bollinger is a concern and should moderate the move lower with spikes below expected.
RES 4: $0.8280 – 21 day upper Bollinger band
RES 3: $0.8232 – Low Nov 6 now resistance
RES 2: $0.8196 – 21 day moving average
RES 1: $0.8176 – High Nov 9
LATEST PRICE: 0.8145
SUP 1: $0.8112 – 21 day lower Bollinger band
SUP 2: $0.8103 – Monthly low Oct 23
SUP 3: $0.8083 – Double daily bottom Sept 10 & 11
SUP 4: $0.7994 – 100 week moving average
AUD/JPY: Focus On Double Daily Bottom. The spike below the 21 & 200-DMA’s adds weight to the bearish case, and with a double daily bottom at the Jpy81.99 level a close below is now needed to see focus turn to retests of the Oct monthly lows in the Jpy78.40.50 region. Topside a close above the Jpy83.05 resistance level is needed to relieve immediate downside pressure.
RES 4: Jpy86.81 – High Apr 2
RES 3: Jpy84.81 – High Apr 13
RES 2: Jpy84.17 – 21 day upper Bollinger band
RES 1: Jpy83.05 – Previous hourly support now resistance
LATEST PRICE: 82.65
SUP 1: Jpy81.99 – Double daily bottom Oct 30 & Nov 9
SUP 2: Jpy81.65 – Low Oct 22
SUP 3: Jpy81.26 – Previous daily resistance now support
SUP 4: Jpy80.68 – 21 day lower Bollinger band
USD/KRW: Test Of Initial Resistance Favoured. Oversold daily tech studies continue to slowly correct and are expected to see the pair retest initial resistance in the Krw1194.3-1198.5 region. The 21-DMA continues to remain key with a close above needed to relieve downside pressure and shift focus back to the Krw1117-1125 region with the 100-WMA noted at Krw1119.9.
RES 4: Krw1117.4 – High Oct 11
RES 3: Krw1109.9 – Previous daily support now resistance
RES 2: Krw1198.5 – 21 day moving average
RES 1: Krw1094.3 – High Nov 5
LATEST PRICE: 1090.7
SUP 1: Krw1084.1 – 2012 low Nov 7
SUP 2: Krw1067.9 – Falling daily channel base
SUP 3: Krw1060.4 – Monthly low Sept 2
SUP 4: Krw1048.3 – 2011 low Aug 1
USD/SGD: Consolidates Above 21-DMA. Consolidation above the 21-DMA to end the week increases the likelihood of a break higher with a test of the Sgd1.2370-20 region favoured while the Nov 1 lows continue to support. The pair paused at the 21 day upper Bollinger band (Sgd1.2263) Friday with spikes above expected to begin and see the upper Bollinger band turn higher once more.
RES 4: Sgd1.2417 – 100 day moving average/21 week moving average
RES 3: Sgd1.2372 – High Sept 11
RES 2: Sgd1.2339 – High Sept 26
RES 1: Sgd1.2267 – High Nov 5
LATEST PRICE: 1.2254
SUP 1: Sgd1.2218 – 21 day moving average
SUP 2: Sgd1.2187 – Low Nov 1
SUP 3: Sgd1.2172 – 21 day lower Bollinger band
SUP 4: Sgd1.2153 – 2012 low Oct 22 2012
EasyForexNews Research Team