AUD/USD continues to look like testing the $0.8335-37 support region with the Sept18 low at $0.9335. A close below the 100-DMA could be a significant bearish signal, especially when combined with correcting very overbought daily tech studies. O/B daily tech studies appear to be weighing on the pair and a close below the $0.9221 level is needed to hint at a deeper correction and shift overall focus back to the $0.8850-95 region.
R 4: $0.9527 – High Sept 18
R 3: $0.9482 – Hourly breakdown level Sept 19
R 2: $0.9458 – High Sept 20
R 1: $0.9420 – Hourly resistance Sept 24
Latest price: $0.9384
S 1: $0.9335 – 100 day moving average
S 2: $0.9280 – Alternating support/resistance
S 3: $0.9221 – Low Sept 10
S 4: $0.9166 – Low Sept 9
NZD/USD: Very overbought daily tech studies continue to weigh as they slowly start to correct, with the kiwi now targeting a test of the $0.8159-07 support region. The break below the $0.8327 level has relieved the previous bullish focus and we will continue to look for a close below the $0.8159 level to confirm a break of the 200-DMA and shift overall focus back to tests of the 2013 low. The $0.8300-45 region is expected to cap bounces today.
R 4: $0.8435 – High Sept 19
R 3: $0.8401 – High Sept 20
R 2: $0.8345 – Hourly resistance Sept 24
R 1: $0.8300 – Hourly resistance Sept 24
Latest price: $0.8275
S 1: $0.8207 – Low Sept 18
S 2: $0.8181 – 200 day moving average
S 3: $0.8159 – Previous daily resistance now support
S 4: $0.8080 – 50% Fibonacci retracement of $0.7724-0.8435
EUR/AUD: The spike above the A$1.4445 level to start the week lacked follow through and failed ahead of the 21-DMA. A close above the 21-DMA remains needed to relieve the immediate bearish focus while a close above the Sept 4 high is needed to shift the overall focus higher. While the 21-DMA caps immediate focus remains on retests of last week’s low with a break lower currently favoured that sees focus shift lower to the A$1.3802-74 support region
R 4: A$1.4757 – Previous daily support now resistance
R 3: A$1.4558 – High Sept 4
R 2: A$1.4513 – 55 day moving average
R 1: A$1.4459 – High Sept 23/21-DMA
Latest price: A$1.4344
S 1: A$1.4197 – Low Sept 18
S 2: A$1.4165 – Low July 17
S 3: A$1.4150 – 100 day moving average
S 4: A$1.4009 – 21 day lower Bollinger band
AUD/NZD continues its bounce from ahead of the 2013 low earlier in the week with the immediate focus now on tests of layers of resistance in the NZ$1.1401-77 region. A close above this region is needed to end bearish aspirations and see focus return to tests of the NZ$1.1658 high from Sept 4. Daily tech studies are slowly looking to correct from O/S levels and are expected to provide support on dips and limit the downside for now.
R 4: NZ$1.1477 – Previous daily support now resistance
R 3: NZ$1.1445 – 21 day moving average
R 2: NZ$1.1420 – Ichimoku cloud base
R 1: NZ$1.1401 – High Sept 19
Latest price: NZ$1.1333
S 1: NZ$1.1315 – Hourly support Sept 24
S 2: NZ$1.1254 – Low Sept 24
S 3: NZ$1.1185 – 2013 low Aug 1
S 4: NZ$1.0936 – Low Oct 24 2008
AUD/JPY dipped below the 100-DMA (Y92.40) overnight before closing back above. We will now look for a close below the Sept 16 low to confirm a break of the 100-DMA with a close below the Y91.56 support needed to shift the immediate focus to tests of the Y90.11 Aug monthly high. Daily tech studies are working off their overbought condition and may continue to thwart attempts to head higher with initial resistance now noted at Y93.56.
R 4: Y94.66 – High June 6
R 3: Y94.55 – 200 day moving average
R 2: Y94.09 – High Sept 20
R 1: Y93.56 – High Sept 23
Latest price: Y92.63
S 1: Y92.04 – Low Sept 16
S 2: Y91.56 – Previous daily resistance now support
S 3: Y91.30 – 21 day moving average
S 4: Y90.54 – Ichimoku cloud top
Oversold daily tech studies remain a concern for USD/KRW and may limit any follow through on a break lower. In saying that, a close above Krw1081.1 remains needed to relieve the immediate bearish focus, while back above the Krw1091.1 level is needed to shift focus back to the Krw1105.1-1108.4 region. The 21 day lower Bollinger band continues to head sharply lower with tests of the band expected while the Krw1081.1 level caps.
R 4: Krw1108.4 – Previous daily support now resistance
R 3: Krw1105.3 – 200 day moving average
R 2: Krw1091.1 – Previous daily support now resistance
R 1: Krw1081.1 – Previous daily support now resistance
Latest price: Krw1075.7
S 1: Krw1070.4 – Low Sept 19
S 2: Krw1063.5 – 21 day lower Bollinger band
S 3: Krw1060.5 – Alternating daily support/resistance
S 4: Krw1054.5 – 2013 low Jan 11
USD/SGD is bouncing back towards the initial resistance level as oversold daily tech studies slowly correct higher. A close above the Sgd1.2564 level remains needed to shift the immediate focus from tests of the Sgd1.2407 June monthly low, while a close above the Sgd1.2649 level is needed to shift overall focus back to retests of the Sgd1.2812-60 region with the 2013 high noted at Sgd1.2860.
R 4: Sgd1.2649 – Previous daily support now resistance
R 3: Sgd1.2642 – 100 day moving average
R 2: Sgd1.2610 – High Sept 18
R 1: Sgd1.2564 – Previous daily support now resistance
Latest price: Sgd1.2538
S 1: Sgd1.2479 – Low Sept 23
S 2: Sgd1.2407 – Monthly low June 7
S 3: Sgd1.2359 – Previous daily resistance now support
S 4: Sgd1.2330 – Low May 10