AUD/USD: Spikes Below Lower Bollinger Expected. Friday’s move lower pulled up just short of the 21 day lower Bollinger band before recovering a little lost ground into the close. We will continue to look for a close above the Nov 15 highs to remove the current focus from a retest of the Oct monthly lows. The lower Bollinger band is expected to slow the move lower with spikes below to recommence.
RES 4: $1.0518 – High Sept 21
RES 3: $1.0480 – High Nov 7
RES 2: $1.0453 – 21 day upper Bollinger band
RES 1: $1.0386 – High Nov 15
LATEST PRICE: 1.0339
SUP 1: $1.0285 – 21 day lower Bollinger band
SUP 2: $1.0238 – Low Oct 23
SUP 3: $1.0150 – Monthly low Oct 8
SUP 4: $1.0105 – 50% retracement of $0.9584-$1.0624 move
NZD/USD: $0.8185-32 Region Key Resistance. The pair managed a spike below the 200-DMA to end the week but recovered a little lost ground to close above. Correcting oversold daily tech studies increase the risk of a bounce back to the $0.8185-32 resistance region with a close above needed to end the move lower that began with the pullback from Nov monthly highs so far.
RES 4: $0.8287 – 21 day upper Bollinger band
RES 3: $0.8232 – Low Nov 6 now resistance
RES 2: $0.8185 – 21 day moving average
RES 1: $0.8128 – High Nov 15
LATEST PRICE: 0.8126
SUP 1: $0.8075 – 200 day moving average
SUP 2: $0.8002 – 100 week moving average
SUP 3: $0.7917 – Monthly low Sept 5
SUP 4: $0.7803 – 61.8% retracement of $0.7461-$0.8356 move
AUD/JPY: Targeting Daily Channel Top. AUD/JPY looks set for a test of the top of the daily channel coming in around Jpy85.15-20 to start the week with the base drawn off Oct monthly lows and supporting around Jpy82.50-55. Overall a close back below the double daily bottom is needed to end the current move higher. Expect spikes above the upper Bollinger to continue.
RES 4: Jpy86.81 – Monthly high Apr 2
RES 3: Jpy85.18 – Rising daily channel top
RES 2: Jpy84.81 – High Apr 13
RES 1: Jpy84.16 – High Nov 16
LATEST PRICE: 84.09
SUP 1: Jpy82.99 – Low Nov 15
SUP 2: Jpy81.99 – Double daily bottom Oct 30 & Nov 9
SUP 3: Jpy81.85 – 21 day lower Bollinger band
SUP 4: Jpy81.65 – Low Oct 22
USD/KRW: 21-DMA Caps To End The Week. The spike higher for USD/KRW on Friday failed at the 21-DMA confirming the significance of this resistance level with a close above last seen back in early Sept. A close above the 21-DMA is needed to end the nearly 6 month long downtrend and see focus shift to retests of the Krw1110-24 region. For now focus remains on retests of 2012 lows.
RES 4: Krw1124.6 – Previous daily support now resistance
RES 3: Krw1117.4 – High Oct 11
RES 2: Krw1109.9 – Previous daily support now resistance
RES 1: Krw1194.2 – 21 day moving average
LATEST PRICE: 1089.6
SUP 1: Krw1084.0 – 2012 low Nov 7
SUP 2: Krw1064.4 – Falling daily channel base
SUP 3: Krw1060.4 – Monthly low Sept 2
SUP 4: Krw1048.3 – 2011 low Aug 1
USD/SGD: Fresh 5 Week Highs To End The Week. USD/SGD managed fresh 5 week highs to end the week as it took out stops above the Sgd1.2270 level. Initial focus now shifts to tests of the Sgd1.2400 region with the 100-DMA noted just below at Sgd1.2391. The pair managed a spike above the upper Bollinger to end the week with spikes above expected to continue as the pair heads higher.
RES 4: Sgd1.2391 – 100 day moving average
RES 3: Sgd1.2372 – High Sept 11
RES 2: Sgd1.2339 – High Sept 26
RES 1: Sgd1.2296 – High Nov 169
LATEST PRICE: 1.2271
SUP 1: Sgd1.2227 – 21 day moving average
SUP 2: Sgd1.2203 – Low Nov 7
SUP 3: Sgd1.2188 – 21 day lower Bollinger band
SUP 4: Sgd1.2153 – 2012 low Oct 22 2012
EasyForexNews Research Team