AUD/USD: Sept Monthly Highs Now Targeted. COMMENTARY: The pair has traded at the highest level in four months with the Sept monthly high now firmly in focus. A close below the Jan 9 low remains needed to relieve the immediate topside pressure with spikes above the upper Bollinger band expected to recommence. Daily tech studies are approaching overbought levels but are not yet expected to weigh as further topside remains favoured.
RES 4: $1.0817 – High Mar 2
RES 3: $1.0690 – High Mar 6
RES 2: $1.0624 – Monthly high Sept 14
RES 1: $1.0607 – 21 day upper Bollinger band
LATEST PRICE: 1.0595
SUP 1: $1.0488 – Low Jan 9
SUP 2: $1.0464 – 21 day moving average
SUP 3: $1.0394 – 100 day moving average
SUP 4: $1.0339 – Low Nov 21
NZD/USD: Break Above 2012 High Expected. The cross continues to head towards the 2012 high and the relatively flat 21 day upper Bollinger band just above. A close back below yesterday’s lows is now needed to relieve the immediate topside pressure with daily tech studies having room to move topside. The $0.8568 Aug 31 highs will remain the overall focus while bullish momentum remains.
RES 4: $0.8840 – Monthly high Aug 1
RES 3: $0.8568 – High Aug 31
RES 2: $0.8498 – 21 day upper Bollinger band
RES 1: $0.8474 – 2012 High Dec 14
LATEST PRICE: 0.8447
SUP 1: $0.8385 – Low Jan 10
SUP 2: $0.8323 – 21 day moving average
SUP 3: $0.8248 – Previous Resistance Now Support
SUP 4: $0.8220 – 100 day moving average
AUD/JPY: Move Higher Continues. The AUD/JPY has ended its brief period of consolidation and is once again heading higher with the fresh 4 years highs and spikes above the upper 21 day Bollinger band (Jpy93.37) expected to continue. Below the Jan 4 low is still needed to relieve the overall topside focus that has the pair heading towards the psychological Jpy95.00 level while a close below the 21-DMA remains needed to end the current up trend.
RES 4: Jpy107.2 – High Nov 7 2007
RES 3: Jpy104.5 – 2008 High Jul 21 2008
RES 2: Jpy100.9 – High Aug 4 2008
RES 1: Jpy96.42 – High Aug 18 2008
LATEST PRICE: 93.45
SUP 1: Jpy91.13 – Low Jan 4
SUP 2: Jpy89.92 – Low Jan 2
SUP 3: Jpy89.59 – 21 day moving average
SUP 4: Jpy88.90 – Low Dec 28
USD/KRW: Looks Heavy, Fresh Lows To Continue. USD/KRW has found support for the moment at the 21 day lower Bollinger band as it continues to set fresh lows last seen back in 2011. The move lower is expected to continue with a close above the 21-DMA remaining needed to relieve the immediate downside focus. Overall we will look for a move back above the Krw1080.8 resistance level to end the down trend.
RES 4: Krw1085.2 – Monthly high Dec 4
RES 3: Krw1080.8 – Previous support now resistance
RES 2: Krw1079.9 – 21 day upper Bollinger band
RES 1: Krw1068.8 – 21 day moving average
LATEST PRICE: 1060.4
SUP 1: Krw1058.2 – 2013 low Jan 10
SUP 2: Krw1058.0 – 21 day lower Bollinger band
SUP 3: Krw1048.3 – 2011 low Aug 1 2011
SUP 4: Krw1037.8 – Falling daily channel base
USD/SGD: Focus Shifts To 2012 Low. Overbought daily techs continue to head lower with the sharp move lower by USD/SGD seeing overall focus return to retests of the 2012 lows. It is also worth noting the 21 day moving average comes in just above the 2012 lows which adds significance to the support. Topside the pair now needs to close back above yesterday’s highs to relieve the immediate downside pressure.
RES 4: Sgd1.2399 – Previous daily support now resistance
RES 3: Sgd1.2339 – High Sept 26
RES 2: Sgd1.2330 – High Jan 7
RES 1: Sgd1.2292 – High Jan 10
LATEST PRICE: 1.2228
SUP 1: Sgd1.2225 – 21 day moving average
SUP 2: Sgd1.2198 – Low Jan 2
SUP 3: Sgd1.2169 – Low Dec 18
SUP 4: Sgd1.2158 – 21 day lower Bollinger band
EasyForexNews Research Team