After remaining capped at the 21-DMA on Thursday, the AUD/USD put in lower lows and highs to end the week as the pair heads towards initial support at the $0.9390 low from Oct 4. A close back above the 21-DMA is now needed to relieve the immediate bearish focus while a close above the 200-DMA is needed to see overall focus shift higher to the $0.9918 resistance level.
R 4: $0.9679 – Previous daily resistance now support
R 3: $0.9624 – High Oct 25
R 2: $0.9585 – Hourly resistance Oct 28
R 1: $0.9532 – 21 day moving average
Latest price: $0.9456
S 1: $0.9390 – Low Oct 4
S 2: $0.9336 – 55 day moving average
S 3: $0.9286 – Low Sept 30
S 4: $0.9260 – 100 day moving average
NZD/USD continued to pause ahead of the 200-DMA and layers of support in the $0.8159-81 region to end last week as daily tech studies head towards oversold levels. 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.
R 4: $0.8555 – High May 6
R 3: $0.8445 – High Oct 24
R 2: $0.8349 – 21 day moving average
R 1: $0.8310 – High Oct 31
Latest price: $0.8256
S 1: $0.8190 – Low Oct 30
S 2: $0.8181 – 200 day moving average
S 3: $0.8159 – Low Sept 16
S 4: $0.8084 – Low Sept 12
AUD/JPY: Immediate focus remains on retests of the Oct 29 low with a close above the Y93.97 level needed to relieve the current bearish pressure 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 sustained break of the 21-DMA with follow through expected to see the immediate focus shift to layers of support in the Y90.67-91.40 region.
R 4: Y95.67 – Monthly High Oct 22
R 3: Y94.71 – 200 day moving average
R 2: Y94.34 – High Oct 24
R 1: Y93.97 – High Oct 28
Latest price: Y93.34
S 1: Y92.69 – Low Oct 29
S 2: Y92.39 – Hourly support Oct 10
S 3: Y92.14 – 38.2% Fibonacci retracement Y86.43-95.67
S 4: Y91.76 – Ichimoku cloud top
The failure at the NZ$1.1579 level combined with correcting overbought daily tech studies have seen the AUD/NZD continue to make headway below the 100-DMA. Immediate focus remains on a test of the Oct 22 low and then the Oct 14 low beneath with a close below this level shifting overall focus back to a test of the 2013 low. Above the NZ$1.1482 level is needed to relieve the immediate bearish pressure.
R 4: NZ$1.1658 – Monthly High Sept 4
R 3: NZ$1.1579 – High Sept 6 & Oct 28
R 2: NZ$1.1527 – Hourly resistance Oct 29
R 1: NZ$1.1482 – High Nov 1
Latest price: NZ$1.1441
S 1: NZ$1.1416 – 21 day moving average
S 2: NZ$1.1388 – Low Oct 22
S 3: NZ$1.1345 – Alternating hourly support/resistance
S 4: NZ$1.1302 – Low Oct 14
EUR/AUD: After pausing ahead of the 21 day upper Bollinger band and the key A$1.4558 resistance level last week the pair has corrected lower, closing below the 21-DMA on Friday. The move lower has seen immediate focus shift to retests of the Oct monthly low with the relatively flat 21 day lower Bollinger band noted just below. Below the A$1.4128 support sees the A$1.3802-74 support region targeted.
R 4: A$1.4757 – Previous daily support now resistance
R 3: A$1.4558 – High Sept 4 & 27
R 2: A$1.4529 – High Oct 29
R 1: A$1.4406 – 100 day moving average
Latest price: A$1.4269
S 1: A$1.4253 – Low Nov 1
S 2: A$1.4128 – Monthly low Oct 21
S 3: A$1.4110 – 21 day lower Bollinger band
S 4: A$1.4079 – Low July 11
USD/KRW: A close above the 21-DMA remains needed relieve bearish pressure while a close above the Krw1069.3 level is 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 continue to correct from oversold levels.
R 4: Krw1091.1 – Alternating daily support/resistance
R 3: Krw1081.1 – Previous daily support now resistance
R 2: Krw1069.3 – Previous daily support now resistance
R 1: Krw1066.1 – 21 day moving average
Latest price: Krw1063.0
S 1: Krw1055.4 – 21 day lower Bollinger band
S 2: Krw1054.5 – 2013 low Jan 11
S 3: Krw1048.3 – 2011 low Aug 1
S 4: Krw1045.8 – Falling daily channel base
USD/SGD finally took out the 21-DMA and the Sgd1.2434 resistance level to end the week as daily tech studies continue to correct from oversold levels. A close back below Friday’s low is needed to signal a false break higher and shift focus back to retests of the Sgd1.2330 low from May 10. Potential now exists for a bigger bounce that sees the pair heading back to the 200-DMA.
R 4: Sgd1.2529 – 200 day moving average
R 3: Sgd1.2496 – High Oct 11
R 2: Sgd1.2464 – High Oct 16
R 1: Sgd1.2442 – High Nov 1
Latest price: Sgd1.2433
S 1: Sgd1.2408 – Low Nov 1
S 2: Sgd1.2330 – Low May 10
S 3: Sgd1.2268 – Monthly low May 9
S 4: Sgd1.2224 – Low Jan 10
