AUD/USD: Remains Heavy To End 2012. The AUD/USD remains heavy as 2012 draws to a close with a close back above the Dec 24 high needed to relieve the immediate downside pressure. The $1.0290-00 region remains the immediate downside target with the 200-DMA noted at $1.0295 and a close below not seen since late Oct. The lower 21 day Bollinger band comes in around $1.0330 today with spikes below expected to continue.
RES 4: $1.0509 – Previous daily support now resistance
RES 3: $1.0462 – 21 day moving average
RES 2: $1.0455 – Hourly Resistance Dec 21
RES 1: $1.0416 – High Dec 24
LATEST PRICE: 1.0368
SUP 1: $1.0339 – Low Nov 21
SUP 2: $1.0295 – 200 day moving average
SUP 3: $1.0290 – Low Nov 16
SUP 4: $1.0238 – Low Oct 23
NZD/USD: Dec 24 High Initial Resistance. The pair continues to remain capped on bounces ahead of the Dec 24 high with a close above needed to shift the immediate focus away from retests of the $0.8060-80 support region. A close below would then see initial focus ratchet lower to retests of the Sept monthly low. Daily tech studies are in oversold territory but this is not yet an issue.
RES 4: $0.8420 – High Dec 19
RES 3: $0.8346 – High Dec 21
RES 2: $0.8309- 21 day moving average
RES 1: $0.8248- High Dec 24
LATEST PRICE: 0.8195
SUP 1: $0.8157 – Low Dec 26
SUP 2: $0.8125 – 21 day lower Bollinger band
SUP 3: $0.8114 – Low Nov 21
SUP 4: $0.8077 – 200 day moving average
AUD/JPY: Falls Just Short Of 2011 High. AUD/JPY fell just short of the 2011 high on Friday as it traded at fresh 2012 highs just short of the Jpy90.00 level. The rising 21 day upper Bollinger band comes in around Jpy89.95 to start the new week with spikes above the upper Bollinger expected until the pair can manage a close back below the 21-DMA. A close below the 21-DMA is needed to shift immediate focus to retests of Jpy85.30.
RES 4: Jpy90.24 – High Sept 22 2008
RES 3: Jpy90.02 – 2011 High Apr 11 2011
RES 2: Jpy89.95 – 21 day upper Bollinger band
RES 1: Jpy89.82 – 2012 high Dec 28
LATEST PRICE: 89.13
SUP 1: Jpy88.90 – Low Dec 28
SUP 2: Jpy87.61 – 21 day moving average
SUP 3: Jpy87.52 – Low Dec 25
SUP 4: Jpy86.07 – Low Dec 10
USD/KRW: Fresh 2012 Low To End Last Week. USD/KRW continues to work its way towards the falling daily channel base as the pair set fresh 2012 lows to end last week and bouncing off the lower 21 day Bollinger band in the process (Krw1067.4). Daily tech studies continue to languish in oversold territory but this has had little effect on the down trend that has been in play for over 6 months.
RES 4: Krw1094.4 – High Nov 16
RES 3: Krw1085.3 – 21 day upper Bollinger band
RES 2: Krw1085.2 – Monthly high Dec 4
RES 1: Krw1076.3 – 21 day moving average
LATEST PRICE: 1068.0
SUP 1: Krw1067.4 – 2012 low Dec 28
SUP 2: Krw1060.4 – Monthly low Sept 2
SUP 3: Krw1048.3 – 2011 low Aug 1
SUP 4: Krw1044.1 – Falling daily channel base
USD/SGD: Pausing Ahead Of Initial Resistance For Now. USD/SGD is consolidating just below initial resistance which is currently the Dec 26 high as the pair continues to spike above the gently rising 21 day upper Bollinger band. While the pair remains supported by the 21-DMA we will continue to target a move back to the Sgd1.2280-00 region with the 100-DMA noted around Sgd1.2286 to start the new week. A close below the 21-DMA is needed to shift focus back to the 2012 low.
RES 4: Sgd1.2296 – High Nov 16
RES 3: Sgd1.2286 – 100 day moving average
RES 2: Sgd1.2271 – Double daily top Nov 19 & 21
RES 1: Sgd1.2247 – High Dec 26
LATEST PRICE: 1.2238
SUP 1: Sgd1.2203 – 21 day moving average
SUP 2: Sgd1.2169 – Low Dec 18
SUP 3: Sgd1.2153 – 2012 low Oct 22 2012
SUP 4: Sgd1.2074 – Low Sept 8 2011
EasyForexNews Research Team