NZD/USD continues to find support at the $0.8272 level with the pair again having bounced from this level on Wednesday. With the 21-DMA now coming in just above this level, we will look for a close below $0.8272 to relieve the bullish focus that is targeting retests of the $0.8351 level, with a break above seeing immediate focus shift to retests of the Sept monthly high. Below $0.8159 remains needed to shift overall focus back to 2013 lows.
AUD/NZD: Layers of resistance remain in the NZ$1.1417-77 region with further tests expected until a close back below the NZ$1.1315 hourly support from Oct 3 low is seen which sees the immediate focus shift to tests of the NZ$1.1261 level. A close above NZ$1.1477 remains needed to see overall focus shift higher to the NZ$1.1658 Sept monthly high. The NZ$1.1261 support remains key, with a close below needed to shift focus back to retests of the 2013 lows
AUD/JPY: The Y92.40 level continues to cap on bounces with the gently falling 21-DMA coming in just below at Y92.29. A close above the Y92.40 level is now needed to confirm a break of the 21-DMA and shift overall focus higher to tests of the 200-DMA (Y94.69). Layers of support remain in the Y90.11-82 region with a close below Y90.11 needed to confirm a break of the 55-DMA and shift overall focus lower to the 2013 low
EUR/AUD dipped below the 100-DMA (A$1.4299) yesterday before bouncing from the Sept 23 low. A close back above the Oct 7 high is needed to relieve the current bearish focus that is targeting a continuation lower that initially tests the A$1.4170-97 region with a break lower seeing the A$1.3802-74 region targeted. Overall the A$1.4558 Sept 4 high remains key resistance with a close above needed to end bearish aspirations and shift focus higher.
Following the dip to fresh 9 month lows to start the new week. USD/KRW has spiked above the 21-DMA which comes in below the key Krw1081.1 resistance level. 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 Krw1101.8-1108.4 region. The falling daily channel base comes in around Krw1059.4 and remains targeted while Krw1081.1 caps.
USD/SGD managed a bounce above the 200-DMA yesterday before failing at the Sgd1.2523 level that had previously supported. We continue to look for close above initial resistance to confirm a break of the 200-DMA which would then see immediate focus shift higher to the Sept 30 high. While initial resistance caps, a break of the 55-WMA remains favoured that sees the June monthly low tested.