AUD/USD: Yesterday’s Low Key Today. Fresh 11 week highs for the AUD/USD overnight as the pair managed to take out stops above the $1.0500 level overnight, spiking above the upper Bollinger band but failing ahead of the Sept 21 high. Yesterday’s lows will be key for the pair today with a close below not boding well for a continuation higher and a close below the 21-DMA needed to shift focus lower once more.
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: $1.0502 – 21 day upper Bollinger band
LATEST PRICE: 1.0478
SUP 1: $1.0442 – Low Dec 6
SUP 2: $1.0420 – 21 day moving average
SUP 3: $1.0393 – 100 day moving average
SUP 4: $1.0339 – Low Nov 21
NZD/USD: Pausing Ahead Of Sept Monthly Highs. Fresh 10 week highs fell just short of the Sept monthly high overnight as the sequence of higher daily highs and lows continues. Previous daily lows are expected to provide support and overall we need to see a close below the Dec 3 low for confirmation of a break of the 21-DMA and a corresponding shift lower in focus back to the Nov monthly lows.
RES 4: $0.8840 – Monthly high Aug 1 2011
RES 3: $0.8568 – High Aug 31 2011
RES 2: $0.8469 – 2012 high Feb 29
RES 1: $0.8356 – Monthly high Sept 28
LATEST PRICE: 0.8321
SUP 1: $0.8284 – Low Dec 6
SUP 2: $0.8237 – Low Dec 5
SUP 3: $0.8215 – Low Dec 4
SUP 4: $0.8172 – Low Dec 3
AUD/JPY: Highest Level Since April. AUD/JPY traded at the highest levels since April but failed to close above the Nov monthly high which indicates little more than a stop take out. The Nov 28 low remains key with a close below needed to relieve immediate topside pressure, while a close below the 21-DMA is needed to shift overall focus lower. Daily tech studies are no longer O/B and well placed for another leg higher.
RES 4: Jpy87.57 – High Mar 27
RES 3: Jpy87.46 – 21 day upper Bollinger band
RES 2: Jpy86.81 – Monthly high Apr 2
RES 1: Jpy86.57 – High Dec 6
LATEST PRICE: 86.20
SUP 1: Jpy85.27 – Low Nov 28
SUP 2: Jpy84.90 – 21 day moving average
SUP 3: Jpy84.17 – Low Nov 19
SUP 4: Jpy82.99 – Low Nov 15
USD/KRW: Above Nov 16 High Needed To End Trend. Following the fresh 2012 lows on Dec 5 USD/KRW has again bounced back towards the 21-DMA with a close above not seen since early Sept. A close above would relieve the immediate downside pressure while a close above the Nov 16 high is needed to end the 7 month long down trend. While Nov 16 highs cap potential will remain for continued 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: Krw1186.2 – 21 day moving average
LATEST PRICE: 1083.9
SUP 1: Krw1080.7 – 2012 low Dec 5
SUP 2: Krw1060.4 – Monthly low Sept 2
SUP 3: Krw1055.1 – Falling daily channel base
SUP 4: Krw1048.3 – 2011 low Aug 1
USD/SGD: Bounces Back Towards 21-DMA. After falling just short of the 2012 low the past two days USD/SGD has relieved the downside pressure a little with a bounce back towards the 21-DMA. We will continue to look for a close above to shift focus back to the Nov 16 highs. It should be noted that the Sgd1.2270-75 region should provide decent resistance with the double daily top and flat upper Bollinger in this region.
RES 4: Sgd1.2331 – 100 day moving average
RES 3: Sgd1.2296 – High Nov 16
RES 2: Sgd1.2271 – Double daily top Nov 19 & 21
RES 1: Sgd1.2228 – 21 day moving average
LATEST PRICE: 1.2211
SUP 1: Sgd1.2153 – 2012 low Oct 22 2012
SUP 2: Sgd1.2098 – Falling daily channel base
SUP 3: Sgd1.2074 – Low Sept 8 2011
SUP 4: Sgd1.2021 – Low Aug 31 2011
EasyForexNews Research Team