AUD/USD: Pair Heavy But Overall Focus Higher. The AUD/USD has managed to dip back below initial support but we will continue to look for a close below the Nov 20 low as confirmation of a break of the 21-DMA. A close below the Nov 20 low is needed to see initial focus turn to retests of the 200-DMA and then the Oct monthly lows beneath. For now initial focus remains on Sept monthly highs.
RES 4: $1.0624 – Monthly high Sept 14
RES 3: $1.0518 – High Sept 21
RES 2: $1.0480 – High Nov 7
RES 1: $1.0472 – 21 day upper Bollinger band
LATEST PRICE: 1.0446
SUP 1: $1.0420 – Previous daily resistance now support
SUP 2: $1.0398 – 21 day moving average
SUP 3: $1.0359 – Low Nov 20
SUP 4: $1.0323 – 21 day lower Bollinger band
NZD/USD: Dipping Back Towards 21-DMA. The pair is dipping back towards the pivotal 21-DMA support level with a close below needed to shift focus back to retests of the 200-DMA. Relatively flat 21 day Bollinger bands are suggesting further sideways trading within a broad $0.8090-0.8290 range with the 21 DMA acting as a pivot point.
RES 4: $0.8356 – Monthly high Sept 28
RES 3: $0.8307 – Monthly high Nov 7
RES 2: $0.8289 – 21 day upper Bollinger band
RES 1: $0.8250 – High Nov 23
LATEST PRICE: 0.8200
SUP 1: $0.8189 – 21 day moving average
SUP 2: $0.8089 – 21 day lower Bollinger band
SUP 3: $0.8070 – 200 day moving average
SUP 4: $0.8013 – 100 week moving average
AUD/JPY: Recent Soft NY Closes A Concern. Although fresh highs are continuing on a daily basis, the lack of follow through and soft closes the past 2-3 days is of some concern, especially when combined with very o/b daily tech studies. A dip back below the Nov 23 low is needed to relieve the immediate topside pressure and prompt a pullback towards the 21-DMA.
RES 4: Jpy88.64 – 2012 high Mar 19
RES 3: Jpy87.57 – High Mar 27
RES 2: Jpy86.81 – Monthly high Apr 2
RES 1: Jpy86.38 – 21 day upper Bollinger band
LATEST PRICE: 85.82
SUP 1: Jpy85.35 – Low Nov 23
SUP 2: Jpy84.17 – Low Nov 19
SUP 3: Jpy83.97 – 21 day moving average
SUP 4: Jpy82.99 – Low Nov 15
USD/KRW: Tests 21-DMA. The 21-DMA again capped yesterdays bounce and we will look for a close above this level to relieve immediate downside pressure with a close above Nov 16 highs needed to confirm a shift higher in focus. Above the Nov 16 highs sees focus return to retests of the Krw1110-1125 region. It is worth noting that the pair has not closed above the 21-DMA since early Sept.
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: Krw1188.7 – 21 day moving average
LATEST PRICE: 1087.0
SUP 1: Krw1080.8 – 2012 low Nov 22
SUP 2: Krw1060.4 – Monthly low Sept 2
SUP 3: Krw1059.4 – Falling daily channel base
SUP 4: Krw1048.3 – 2011 low Aug 1
USD/SGD: Narrow Ranges Persist. USD/SGD continues to remain confined to its recent Sgd1.2203-1.2271 range with a close either side of these parameters needed to inject fresh life into the pair. While the Nov 7 low remains in play there is a slight bullish bias favoured with a close above the Nov 16 high needed to confirm that a move higher is finally underway.
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: 1.2234
SUP 1: Sgd1.2203 – Low Nov 7
SUP 2: Sgd1.2196 – 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