AUD/USD: Sept Monthly Highs Just Above. Immediate focus remains on the Sept monthly highs for the AUD/USD with a break above then seeing the 2012 highs come into the picture. Below the 21-DMA is needed to shift focus back to Nov monthly lows and we will look for a close below the Dec 3 low as confirmation of a break below the 21-DMA. The AUD/USD has close above the upper Bollinger with spikes above expected to continue.
RES 4: $1.0856 – 2012 high Feb 29
RES 3: $1.0693 – High Mar 7
RES 2: $1.0637 – High Mar 19
RES 1: $1.0624 – Monthly high Sept 14
LATEST PRICE: 1.0570
SUP 1: $1.0523 – Low Dec 12
SUP 2: $1.0463 – Low Dec 11
SUP 3: $1.0442 – Low Dec 6
SUP 4: $1.0437 – 21 day moving average
NZD/USD: Fresh 2012 Highs Remain Likely. The pair continues to oscillate around the sharply rising 21 day upper Bollinger band ($0.8410) with focus firmly on retests of the 2012 highs. A close below yesterday’s low is needed to remove the immediate topside pressure with back below the Dec 3 lows needed to shift focus back to retests of the Nov monthly lows.
RES 4: $0.8840 – Monthly high Aug 1 2011
RES 3: $0.8677 – High Aug 3 2011
RES 2: $0.8568 – High Aug 31 2011
RES 1: $0.8469 – 2012 high Feb 29
LATEST PRICE: 0.8440
SUP 1: $0.8386 – Low Dec 12
SUP 2: $0.8284 – Low Dec 6
SUP 3: $0.8237 – Low Dec 5
SUP 4: $0.8215 – Low Dec 4
AUD/JPY: Jpy86.90-00 Region Initial. The 2012 highs set on Mar 19 highs remain the initial target for the AUD/JPY with initial support now seen at yesterday’s lows (Jpy86.90). Below this level is needed to relieve the immediate topside pressure with below the Nov 28 low now needed to confirm a break of the 21-DMA and an end to the current move higher.
RES 4: Jpy90.74 – Monthly high Sept 28 2008
RES 3: Jpy89.63 – High Apr 28 2011
RES 2: Jpy88.64 – 2012 high Mar 19
RES 1: Jpy88.13 – High Mar 21
LATEST PRICE: 88.00
SUP 1: Jpy86.90 – Low Dec 10
SUP 2: Jpy86.07 – Low Dec 10
SUP 3: Jpy85.27 – Low Nov 28
SUP 4: Jpy84.17 – Low Nov 19
USD/SGD: Focus Remains On 2012 Lows. USD/SGD continues to trade in narrow ranges with above the Nov 28 high needed to confirm a break back above the 21-DMA (Sgd1.2221) and shift focus to retests of the Nov 16 high. While Nov 28 highs cap the risk of a retest of 2012 lows remains. The lower Bollinger band comes in around the Dec 4 lows today which adds significance to this region with closes below the lower Bollinger a rarity.
RES 4: Sgd1.2324 – 100 day moving average
RES 3: Sgd1.2296 – High Nov 16
RES 2: Sgd1.2271 – Double daily top Nov 19 & 21
RES 1: Sgd1.2243 – High Nov 28
LATEST PRICE: 1.2193
SUP 1: Sgd1.2172 – Low Dec 4
SUP 2: Sgd1.2153 – 2012 low Oct 22 2012
SUP 3: Sgd1.2074 – Low Sept 8 2011
SUP 4: Sgd1.2021 – Low Aug 31 2011
EasyForexNews Research Team