The move lower in the NZD/USD continued overnight with the pair pausing at the 21 day lower Bollinger band and the 200-DMA noted at $0.8182. Below $0.8159 remains needed to see focus return to the $0.7685-0.7730 region. A close above the 21-DMA remains 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.
The failure at the NZ$1.1579 level combined with correcting overbought daily tech studies have seen the AUD/NZD slowly making headway below the 100-DMA, closing inside the Ichimoku cloud. Immediate focus remains on a test of the Oct 24 low with a close below this level shifting overall focus back to a test of the 2013 low. Above the NZ$1.1579 level is needed to kick start bullish momentum and shift focus back to the NZ$1.1658-1.1748 region.
An inside day for AUD/JPY on Wednesday as the pair bounced from ahead of recent lows. Immediate focus remains on a test of the Oct 29 low with a close above the Y93.97 level needed to relieve the immediate bearish focus while back above the 200-DMA is needed to shift focus higher 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 Y90.67-91.40 region.
EUR/AUD continues to pause ahead of the 21 day upper Bollinger band and the key A$1.4558 resistance level. A close above the A$1.4558 level remains needed to see focus ratchet higher to tests of the 2013 high. A close below the A$1.4399 level remains needed to relieve the immediate bullish pressure while a close below the Oct 24 low is needed to confirm a break of the 21-DMA and shift focus lower.
USD/KRW has dipped back below the Krw1060.0 support level after remaining capped ahead of the falling 21-DMA. 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. Daily tech studies are correcting from oversold levels.
The bounces in USD/SGD remain capped ahead of the initial resistance at Sgd1.2434. Correcting oversold daily tech studies may limit downside follow through and see further tests of initial resistance. 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. A close above the Sgd1.2541 level remains needed to shift overall focus higher.