AUD/USD: Struggling To Take Out $1.0480-00 Region. The AUD/USD continues to pause ahead of the 21 day upper Bollinger band with numerous daily highs noted just ahead and daily tech studies correcting from moderately overbought levels. This doesn’t bode well for the prospect of higher levels but we will continue to look for a close below the 100-DMA to signal a shift in focus back to retests of the Nov monthly lows.
RES 4: $1.0856 – 2012 high Feb 29
RES 3: $1.0624 – Monthly high Sept 14
RES 2: $1.0518 – High Sept 21
RES 1: $1.0494 – 21 day upper Bollinger band
LATEST PRICE: 1.0448
SUP 1: $1.0417 – 21 day moving average
SUP 2: $1.0393 – 100 day moving average
SUP 3: $1.0339 – Low Nov 21
SUP 4: $1.0304 – 200 day moving average
NZD/USD: Fresh 4 Week Highs Overnight. Fresh 4 week highs see immediate focus on retests of the Sept monthly highs with yesterday’s lows now noted as initial support. Overall we need to see the pair close below the Dec 3 lows to confirm a close below the 21-DMA and to shift focus back to retests of the Sept monthly lows. Spikes above the upper Bollinger ($0.8278) are expected to continue.
RES 4: $0.8568 – Monthly high Aug 31 2011
RES 3: $0.8469 – 2012 high Feb 29
RES 2: $0.8356 – Monthly high Sept 28
RES 1: $0.8307 – Monthly high Nov 7
LATEST PRICE: 0.8278
SUP 1: $0.8237 – Low Dec 5
SUP 2: $0.8215 – Low Dec 4
SUP 3: $0.8172 – Low Dec 3
SUP 4: $0.8093 – 21 day lower Bollinger band
AUD/JPY: Remains Range Bound For Now. The Jpy85.27-86.43 consolidation continues with the pair drifting towards the upper end into the NY close. The consolidation has seen daily tech studies correct their overbought condition and leaves them well placed for another leg higher. A close above the Nov 26 highs would see focus shift to a recommencement of spikes above the upper 21 day Bollinger band.
RES 4: Jpy87.57 – High Mar 27
RES 3: Jpy87.32 – 21 day upper Bollinger band
RES 2: Jpy86.81 – Monthly high Apr 2
RES 1: Jpy86.43 – High Nov 26
LATEST PRICE: 86.20
SUP 1: Jpy85.27 – Low Nov 28
SUP 2: Jpy84.75 – 21 day moving average
SUP 3: Jpy84.17 – Low Nov 19
SUP 4: Jpy82.99 – Low Nov 15
USD/KRW: Pressure Remains On Lower Levels. Marginal fresh 2012 lows overnight see USD/KRW continue to drift towards the falling daily channel base with the current down trend now in its 7th month. The 21-DMA remains the key resistance for USD/KRW with a close above not seen since early Sept. A close above would relieve the immediate downside pressure with above Nov 16 highs confirming and end to the move lower.
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: Krw1186.4 – 21 day moving average
LATEST PRICE: 1084.8
SUP 1: Krw1080.7 – 2012 low Dec 5
SUP 2: Krw1060.4 – Monthly low Sept 2
SUP 3: Krw1055.8 – Falling daily channel base
SUP 4: Krw1048.3 – 2011 low Aug 1.
USD/SGD: Fresh 2012 Lows Remain Favoured. An inside day for USD/SGD yesterday as the pair continues to drift towards the 2012 low. At present fresh 2012 lows remain favoured until the pair can manage a close back above the 21-DMA which would then shift focus back to the Nov monthly high. The 21 day lower Bollinger comes in around Sgd1.2181 today with spikes below expected to continue.
RES 4: Sgd1.2296 – High Nov 16
RES 3: Sgd1.2271 – Double daily top Nov 19 & 21
RES 2: Sgd1.2228 – 21 day moving average
RES 1: Sgd1.2198 – High Dec 4
LATEST PRICE: 1.2187
SUP 1: Sgd1.2153 – 2012 low Oct 22 2012
SUP 2: Sgd1.2111 – Falling daily channel base
SUP 3: Sgd1.2074 – Low Sept 8 2011
SUP 4: Sgd1.2021 – Low Aug 31 2011
EasyForexNews Research Team