AUD/USD: The $0.9624 level confirmed as initial resistance with the pair remaining capped just short of this level to start the new week. Lower lows and highs continue with the aussie closing below the rising daily trend line and currently on track to test the $0.8481-0.8515 region as daily tech studies correct from overbought levels. A break of the $0.8481 level is needed to confirm a break of the 21-DMA and shift focus lower.
R 4: $0.9791 – Monthly high June 3
R 3: $0.9735 – 200 day moving average
R 2: $0.9679 – Previous daily resistance now support
R 1: $0.9624 – High Oct 25
Latest price: $0.9570
S 1: $0.9515 – 21 day moving average
S 2: $0.9481 – Low Oct 15
S 3: $0.9390 – Low Oct 4
S 4: $0.9286 – Low Sept 30
NZD/USD: The close below the 21-DMA last week confirmed the current focus targeting a test of the layers of support in the $0.8158-0.8233 region with the 200-DMA noted at $0.8184. A close above the 21-DMA is now needed to relieve the immediate bearish focus while above the $0.8445 level remains needed to see the pair targeting the $0.8555-82 region once more.
R 4: $0.8582 – Monthly high May 1
R 3: $0.8555 – High May 6
R 2: $0.8445 – High Oct 24
R 1: $0.8356 – 21 day moving average
Latest price: $0.8297
S 1: $0.8233 – Low Oct 10
S 2: $0.8202 – Low Oct 2
S 3: $0.8184 – 200 day moving average
S 4: $0.8163 – 55 day moving average
AUD/NZD found support ahead of the 100-DMA to start the new week after having pulled back from a failure at the NZ$1.1579 resistance. The 21 day upper Bollinger band (NZ$1.1447) continues to head higher with the pair expected to oscillate around the upper Bolli until a close below the 100-DMA is seen. A close below the 100-DMA relieves the immediate bullish focus while back below the NZ$1.1431 Oct 24 low is needed to shift overall focus lower.
R 4: NZ$1.1890 – 200 day moving average
R 3: NZ$1.1748 – High July 11
R 2: NZ$1.1658 – Monthly High Sept 4
R 1: NZ$1.1579 – High Sept 6 & Oct 28
Latest price: NZ$1.1525
S 1: NZ$1.1527 – Low Oct 28
S 2: NZ$1.1431 – Low Oct 24
S 3: NZ$1.1388 – Low Oct 22
S 4: NZ$1.1345 – Alternating hourly support/resistance
AUD/JPY: After bouncing from the rising daily channel base and the 21-DMA on Friday the pair bounced a little higher to start the new week before heading lower once more. A close below the Y92.39 support remains needed to confirm a break of the 21-DMA and see the immediate focus shift to layers of support in the YY90.67-91.40 region. Back above the 200-DMA is needed to shift focus higher once more.
R 4: Y95.67 – High Oct 22
R 3: Y94.73 – 200 day moving average
R 2: Y94.34 – High Oct 24
R 1: Y93.97 – High Oct 28
Latest price: Y93.46
S 1: Y93.03 – 21 day moving average
S 2: Y92.39 – Hourly support Oct 16
S 3: Y92.14 – 38.2% Fibonacci retracement Y86.43-95.67
S 4: Y91.09 – 55 day moving average
EUR/AUD: After breaking and closing above the 21-DMA last Thursday the pair found support ahead of this level to start the new week. Initial resistance remains in the A$1.4450-65 region but the current focus remains on a test of the key A$1.4558 level. A close below the 21-DMA is needed to relieve the immediate bullish pressure while back below the Oct 24 low is needed to shift overall focus lower.
R 4: A$1.4757 – Previous daily support now resistance
R 3: A$1.4558 – High Sept 4 & 27
R 2: A$1.4465 – High Oct 7
R 1: A$1.4450 – 55 day moving average
Latest price: A$1.4400
S 1: A$1.4324 – 21 day moving average
S 2: A$1.4268 – Low Oct 24
S 3: A$1.4128 – Low Oct 21
S 4: A$1.3956 – 38.2% Fibonacci retracement of 1.2222-1.5028
USD/KRW: Correcting oversold daily tech studies may limit the downside until they return to more neutral levels. A close above the 21-DMA remains needed to see focus shift higher to layers of resistance in the Krw1081.1-1091.1 region including the falling daily channel top and 55-DMA. A close below the 2013 low is needed to reconfirm bearish focus and re-target the falling daily channel base.
R 4: Krw1086.2 – 55 day moving average
R 3: Krw1084.6 – Falling daily channel top
R 2: Krw1081.1 – Previous daily support now resistance
R 1: Krw1068.2 – 21 day moving average
Latest price: Krw1062.2
S 1: Krw1054.5 – 2013 low Jan 11
S 2: Krw1048.3 – 2011 low Aug 1
S 3: Krw1047.7 – Falling daily channel base
S 4: Krw1040.1 – Previous daily resistance now support
USD/SGD is pausing ahead of the recent lows as oversold daily tech studies look to correct which may slow the move lower for the time being. A close back above the Sgd1.2434 level remains needed to relieve the bearish focus that is currently targeting an overall test of the May monthly low. Overall a close above the Sgd1.2541 level remains needed to confirm a break of the 200-DMA and shift overall focus back to the Sgd1.2649 resistance.
R 4: Sgd1.2526 – 200 day moving average
R 3: Sgd1.2496 – High Oct 11
R 2: Sgd1.2464 – High Oct 16
R 1: Sgd1.2434 – High Oct 22
Latest price: Sgd1.2371
S 1: Sgd1.2330 – Low May 10
S 2: Sgd1.2268 – Monthly low May 9
S 3: Sgd1.2224 – Low Jan 10
S 4: Sgd1.2198 – 2013 Low Jan 2
