AUD/USD: Narrow Consolidation To Start The Week. Narrow sideways trading continues following Friday’s break higher with a close back below the Nov 20 low currently needed to remove the bullish focus. While the Nov 20 low remains in play the immediate focus for the pair remains on retests of the Sept monthly highs. Daily tech studies are largely mid-range and not yet an issue.
RES 4: $1.0624 – Monthly high Sept 14
RES 3: $1.0518 – High Sept 21
RES 2: $1.0480 – High Nov 7
RES 1: $1.0466 – 21 day upper Bollinger band
LATEST PRICE: 1.0453
SUP 1: $1.0440 – Low Nov 26
SUP 2: $1.0420 – Previous daily resistance now support
SUP 3: $1.0359 – Low Nov 20
SUP 4: $1.0318 – 21 day lower Bollinger band
NZD/USD: Below 21-DMA Needed To Shift Focus Lower. The pair consolidated at the upper end of Friday’s range to start the week with focus currently on retests of the Sept monthly highs. We will continue to look for a close back below the 21-DMA to relieve the topside pressure and return focus to retests of the 200-DMA. Bollinger bands remain flat suggesting further $0.8090-0.8290 trading.
RES 4: $0.8356 – Monthly high Sept 28
RES 3: $0.8307 – Monthly high Nov 7
RES 2: $0.8288 – 21 day upper Bollinger band
RES 1: $0.8250 – High Nov 23
LATEST PRICE: 0.8218
SUP 1: $0.8188 – 21 day moving average
SUP 2: $0.8089 – 21 day lower Bollinger band
SUP 3: $0.8071 – 200 day moving average
SUP 4: $0.8013 – 100 week moving average
AUD/JPY: Spikes Higher To Start The Week. AUD/JPY continues to work its way towards the 2012 highs and has closed back below the upper Bollinger (Jpy86.15) for the first time in 7 consecutive days. Spikes above the upper Bollinger are expected to continue with a close back below the 21-DMA needed to call an end to the current up move.
RES 4: Jpy89.63 – High Apr 28 2011
RES 3: Jpy88.64 – 2012 high Mar 19
RES 2: Jpy87.57 – High Mar 27
RES 1: Jpy86.81 – Monthly high Apr 2
LATEST PRICE: 86.89
SUP 1: Jpy85.35 – Low Nov 23
SUP 2: Jpy84.17 – Low Nov 19
SUP 3: Jpy83.66 – 21 day moving average
SUP 4: Jpy82.99 – Low Nov 15
USD/KRW: Remains Heavy. The 21-DMA remains key to relieving immediate downside pressure that has been in play following the pullback from 2012 highs in early June. We will look for a close above the Nov 16 high as confirmation of a break of the 21-DMA with immediate focus then returning to the Krw1110-1125 region. While the downtrend remains so does the likelihood of fresh 2012 lows.
RES 4: Krw1117.4 – High Oct 11
RES 3: Krw1109.9 – Previous daily support now resistance
RES 2: Krw1094.4 – High Nov 16
RES 1: Krw1190.0 – 21 day moving average
LATEST PRICE: 1086.1
SUP 1: Krw1080.8 – 2012 low Nov 22
SUP 2: Krw1060.8 – Falling daily channel base
SUP 3: Krw1060.4 – Monthly low Sept 2
SUP 4: Krw1048.3 – 2011 low Aug 1
USD/SGD: Looking A Little Heavy. USD/SGD consolidated below the 21-DMA to start the week and continues to look heavy with a test of Nov 7 lows looking more likely. A close below the Nov 7 lows sees immediate focus turn to fresh 2012 lows. Topside the pair now needs to close above the Nov 16 highs to kick start topside momentum and end the Sgd1.2150-1.2300 range trading.
RES 4: Sgd1.2372 – High Sept 11
RES 3: Sgd1.2339 – High Sept 26
RES 2: Sgd1.2296 – High Nov 16
RES 1: Sgd1.2271 – Double daily top Nov 19 & 21
LATEST PRICE: 1.2215
SUP 1: Sgd1.2203 – Low Nov 7
SUP 2: Sgd1.2194 – 21 day lower Bollinger band
SUP 3: Sgd1.2153 – 2012 low Oct 22 2012
SUP 4: Sgd1.2074 – Low Sept 8 2011
EasyForexNews Research Team