AUD/USD: Daily Tech Studies Correcting From Oversold. The pair begins the new year having consolidated within a $1.0340-15 range for the past two weeks. The 21-DMA remains the key resistance with a close above needed to see focus shift back to Dec monthly highs. While the pair remains below the 21-DMA immediate focus will remain on retests of the key $1.0290-00 support region. Daily tech studies are slowly correcting from oversold levels which may continue to provide support.
RES 4: $1.0509 – Previous daily support now resistance
RES 3: $1.0459 – 21 day moving average
RES 2: $1.0455 – Hourly Resistance Dec 21
RES 1: $1.0416 – High Dec 24
LATEST PRICE: 1.0397
SUP 1: $1.0339 – Low Nov 21
SUP 2: $1.0294 – 200 day moving average
SUP 3: $1.0290 – Low Nov 16
SUP 4: $1.0238 – Low Oct 23
NZD/USD: Approaching Initial Resistance. The cross bounce back towards the 21-DMA to end 2012 and usher in the new year with a close above the 21-DMA needed to see immediate focus turn to the Dec monthly highs. While the 21-DMA caps there is still a chance of a test of the $0.8060-80 region that we have been targeting. Daily tech studies are a concern as they correct from oversold levels.
RES 4: $0.8489 – 21 day upper Bollinger band
RES 3: $0.8474 – High Dec 14
RES 2: $0.8366 – High Dec 23
RES 1: $0.8316- 21 day moving average
LATEST PRICE: 0.8277
SUP 1: $0.8248 – Previous Resistance Now Support
SUP 2: $0.8157 – Low Dec 26
SUP 3: $0.8142 – 21 day lower Bollinger band
SUP 4: $0.8114 – Low Nov 21
AUD/JPY: Fresh 4 Year Highs. AUD/JPY traded at the highest level since Sept 8 2008 to start the new year with spikes above the 21 day upper Bollinger band expected to continue. Topside we will look to the Jpy95.00 region as a target. A close below the Dec 28 support is needed to relieve the immediate topside pressure while a close below the 21-DMA is needed to shift focus lower once more.
RES 4: Jpy93.24 – Low Aug 14 2008
RES 3: Jpy90.87 – High Sept 8 2008
RES 2: Jpy90.48 – 21 day upper Bollinger band
RES 1: Jpy90.21 – High Jan 1
LATEST PRICE: 89.13
SUP 1: Jpy88.90 – Low Dec 28
SUP 2: Jpy88.01 – 21 day moving average
SUP 3: Jpy87.52 – Low Dec 25
SUP 4: Jpy86.07 – Low Dec 10
USD/KRW: Remains Heavy To Start 2013. USD/KRW continues to work its way towards the falling daily channel base as the pair took out the 2012 lows to start 2013. The 21-DMA remains they key resistance with a close above not seen since early Sept. We will look to the Krw1080 resistance level as confirmation of a break of the 21-DMA and a subsequent shift higher in focus back towards the 200-DMA (Krw1125.0).
RES 4: Krw1085.2 – Monthly high Dec 4
RES 3: Krw1085.0 – 21 day upper Bollinger
RES 2: Krw1080.8 – Previous support now resistance
RES 1: Krw1074.5 – 21 day moving average
LATEST PRICE: 1063.5
SUP 1: Krw1063.5 – 2013 low Jan 1
SUP 2: Krw1060.4 – Monthly low Sept 2
SUP 3: Krw1048.3 – 2011 low Aug 1
SUP 4: Krw1042.7 – Falling daily channel base
USD/SGD: Falling Daily Trend Line Continues To Cap. USD/SGD has remained capped by the falling daily trend line off the Sept 11 highs which comes in around the Dec 26 resistance level today. The 21-DMA remains somewhat pivotal support with a close below needed to shift focus back to retests of the 2012 low. Topside if USD/SGD can take out the falling daily trend line the Sgd1.2270-00 region provides the next layers of resistance.
RES 4: Sgd1.2296 – High Nov 16
RES 3: Sgd1.2281 – 100 day moving average
RES 2: Sgd1.2271 – Double daily top Nov 19 & 21
RES 1: Sgd1.2247 – High Dec 26
LATEST PRICE: 1.2213
SUP 1: Sgd1.2206 – 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