AUD/USD: More $1.0290-$1.0420 To Come. Sideways trading continues for the AUD/USD with more $1.0290-1.0420 trading expected to end the week. Below the $1.0290 level sees the Oct monthly lows become the overall focus while a close above the Nov 20 highs is needed to kickstart topside momentum. Consecutive lower weekly highs for the AUD/USD are a concern and weigh on the pair.
RES 4: $1.0518 – High Sept 21
RES 3: $1.0480 – High Nov 7
RES 2: $1.0446 – 21 day upper Bollinger band
RES 1: $1.0423 – High Nov 20
LATEST PRICE: $1.0385
SUP 1: $1.0359 – Low Nov 20
SUP 2: $1.0319 – 21 day lower Bollinger band
SUP 3: $1.0238 – Low Oct 23
SUP 4: $1.0150 – Monthly low Oct 8
NZD/USD: Key Resistance Continues To Cap. The $0.8187/232 resistance region remains key for the NZD with the 21-DMA noted at $0.8187 today. While this region caps focus remains on retests of the 200-DMA with a close below not seen since early Sept. Topside a close above $0.8232 is needed to shift focus back to retests of the Sept monthly highs.
RES 4: $0.8307 – Monthly high Nov 7
RES 3: $0.8285 – 21 day upper Bollinger band
RES 2: $0.8232 – Low Nov 6 now resistance
RES 1: $0.8201 – High Nov 20
LATEST PRICE: $0.8155
SUP 1: $0.8087 – 21 day lower Bollinger band
SUP 2: $0.8072 – 200 day moving average
SUP 3: $0.8008 – 100 week moving average
SUP 4: $0.7917 – Monthly low Sept 5
AUD/JPY: Focus Remains On 2012 Highs. Fresh 7 month highs continue on a daily basis for AUD/JPY with 2012 highs now the overall target. The pair continues to outpace the rising 21-day upper Bollinger band which gives an indication of just how strong the current move is. For now. will look for a close back below the Nov 19 lows to relieve immediate topside pressure.
RES 4: Jpy89.63 – High Apr 28 2011
RES 3: Jpy88.64 – 2012 high Mar 19
RES 2: Jpy87.57 – High Mar 27
RES 1: Jpy86.81 – Monthly high Apr 2
LATEST PRICE: Y85.61
SUP 1: Jpy84.17 – Low Nov 19
SUP 2: Jpy83.51 – 21 day moving average
SUP 3: Jpy82.99 – Low Nov 15
SUP 4: Jpy81.99 – Double daily bottom Oct 30 & Nov 9
USD/KRW: Bullish Outside Day Reversal. Technically USD/KRW managed a bullish outside day reversal yesterday after setting fresh 2012 lows but we will continue to look for a close above the 21-DMA to hint at an end to the immediate downside pressure. A close above the 21-DMA sees focus return to retests of the Krw1110-1125 region.
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: Krw1190.5 – 21 day moving average
LATEST PRICE: Krw1085.8
SUP 1: Krw1080.8 – 2012 low Nov 22
SUP 2: Krw1062.2 – Falling daily channel base
SUP 3: Krw1060.4 – Monthly low Sept 2
SUP 4: Krw1048.3 – 2011 low Aug 1
USD/SGD: Narrow Ranges To Continue. The pair continues to trade sideways within a narrow range and just above the 21-DMA. While the 21-DMA supports hopes of higher levels remain. Look for a close below the Nov 7 low as confirmation of a break of the 21-DMA which then sees focus return to fresh 2012 lows. For now expect narrow ranges to continue.
RES 4: Sgd1.2375 – 100 day moving average
RES 3: Sgd1.2372 – High Sept 11
RES 2: Sgd1.2339 – High Sept 26
RES 1: Sgd1.2296 – High Nov 16
LATEST PRICE: Sgd1.2251
SUP 1: Sgd1.2231 – 21 day moving average
SUP 2: Sgd1.2203 – Low Nov 7
SUP 3: Sgd1.2192 – 21 day lower Bollinger band
SUP 4: Sgd1.2153 – 2012 low Oct 22 2012
EasyForexNews Research Team