AUD/USD: Upper Bollinger Expected To Cap Today. The sharp bounce from Friday’s spike below the 200-DMA continued to start the week and has seen immediate focus return to tests of the 21 day upper Bollinger band. Back below hourly support at $1.0363 is needed to relieve current topside focus and see Oct monthly lows come back into the picture. Further topside should be slowed by the upper Bollinger Today.
RES 4: $1.0624 – Monthly high Sept 14
RES 3: $1.0518 – High Sept 21
RES 2: $1.0480 – High Nov 7
RES 1: $1.0457 – 21 day upper Bollinger band
LATEST PRICE: 1.0410
SUP 1: $1.0363 – Hourly support Nov 19
SUP 2: $1.0289 – 21 day lower Bollinger band
SUP 3: $1.0238 – Low Oct 23
SUP 4: $1.0150 – Monthly low Oct 8
NZD/USD: $0.8185-32 Resistance Region Being Tested. The Kiwi has re-entered the $0.8185-32 key resistance region and we will look for a close above the $0.8232 level as confirmation of a break of the 21-DMA ($0.8187) and a shift in focus back to the $0.8307-56 region. Correcting oversold daily Slow Stochastics are adding support to the pair though the upper Bollinger should slow any move higher.
RES 4: $0.8356 – Monthly high Sept 28
RES 3: $0.8307 – Monthly high Nov 7
RES 2: $0.8288 – 21 day upper Bollinger band
RES 1: $0.8232 – Low Nov 6 now resistance
LATEST PRICE: 0.8196
SUP 1: $0.8170 – Hourly support Nov 19
SUP 2: $0.8074 – 200 day moving average
SUP 3: $0.8009 – 100 week moving average
SUP 4: $0.7917 – Monthly low Sept 5
AUD/JPY: Channel Top In Sight. AUD/JPY has again set fresh almost 7 month highs with 6 consecutive weekly highs also noted, as the pair heads towards the rising daily channel top around Jpy85.25-30 today. A close well above the sharply rising upper 21 day Bollinger band is expected to see a little retracement today as oscillation around the upper Bollinger band continues.
RES 4: Jpy87.57 – High Mar 27
RES 3: Jpy86.81 – Monthly high Apr 2
RES 2: Jpy85.29 – Rising daily channel top
RES 1: Jpy84.81 – High Apr 13
LATEST PRICE: 84.73
SUP 1: Jpy84.17 – Low Nov 19
SUP 2: Jpy82.99 – Low Nov 15
SUP 3: Jpy81.99 – Double daily bottom Oct 30 & Nov 9
SUP 4: Jpy81.81 – 21 day lower Bollinger band
USD/KRW: 21-DMA Remains Key Resistance. The 21-DMA remains key resistance for USD/KRW with a close above needed to end the current nearly 6 month long downtrend as the pair hovers just above 2012 lows. While the 21-DMA caps fresh 2012 lows are favoured with the falling daily channel base acting as our moving target. Daily tech studies are no longer oversold and not currently considered an issue.
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: Krw1193.4 – 21 day moving average
LATEST PRICE: 1089.6
SUP 1: Krw1084.0 – 2012 low Nov 7
SUP 2: Krw1063.6 – Falling daily channel base
SUP 3: Krw1060.4 – Monthly low Sept 2
SUP 4: Krw1048.3 – 2011 low Aug 1
USD/SGD: 21-DMA To Be Pressured Again. USD/SGD has lacked follow through since the spike to fresh 5 week highs on Friday and is now threatening the 21-DMA once again. We will look for a close below the Nov 7 lows as confirmation of a break of the 21-DMA and a shift in focus back to fresh 2012 lows. Overall while the Nov 7 lows support a slim chance of a bounce back to the Sgd1.2400 region remains.
RES 4: Sgd1.2387 – 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: 1.2234
SUP 1: Sgd1.2228 – 21 day moving average
SUP 2: Sgd1.2203 – Low Nov 7
SUP 3: Sgd1.2190 – 21 day lower Bollinger band
SUP 4: Sgd1.2153 – 2012 low Oct 22 2012
EasyForexNews Research Team