AUD/JPY: Dips To Test The 21-DMA. After making minor fresh highs for the week overnight the AUD/USD has ended the session looking a little soft, dipping back to test the 21-DMA support and closing just above. We will continue to look for a close below the 21-DMA to shift focus lower and back to the $1.0290-00 region. While the pair remains above the 21-DMA focus initial focus will remain on retests of the Dec monthly highs ($1.0583) and then the Sept monthly highs ($1.0624).
RES 4: $1.0624 – Monthly high Sept 14
RES 3: $1.0597 – 21 day upper Bollinger band
RES 2: $1.0583 – Monthly High Dec 12
RES 1: $1.0527 – High Jan 2
LATEST PRICE: 1.0467
SUP 1: $1.0461 – 21 day moving average
SUP 2: $1.0416 – Previous resistance now support
SUP 3: $1.0339 – Low Nov 21
SUP 4: $1.0324 – 21 day lower Bollinger band
NZD/USD: Looking Soft, $0.8248 Initial Support. Following the close above the 21-DMA on Wednesday the Kiwi has looked soft yesterday, failing to retest initial resistance and closing back below the 21-DMA. Immediate focus is no on the $0.8248 support level with a close below this level needed to confirm a return in focus to the key $0.8060-80 support region. At present further $0.8248-0.8360 sideways trading is favoured.
RES 4: $0.8491 – 21 day upper Bollinger band
RES 3: $0.8474 – 2012 High Dec 14
RES 2: $0.8392 – High Jan 2
RES 1: $0.8360 – Hourly resistance
LATEST PRICE: 0.8283
SUP 1: $0.8248 – Previous Resistance Now Support
SUP 2: $0.8157 – Monthly Low Dec 26
SUP 3: $0.8150 – 21 day lower Bollinger
SUP 4: $0.8079 – 200 day moving average
AUD/JPY: Consolidates At Upper End Of Weekly Range. AUD/JPY paused to catch its breath a little yesterday as it consolidated at the upper end of this weeks lofty range to allow the rising 21 day upper Bollinger band to catch up (Jpy91.37). Despite very overbought daily tech studies the pair continues to focus on levels not seen since Aug 2008 with a close below the Jan 2 low needed to relieve the immediate topside pressure.
RES 4: Jpy100.9 – High Aug 4 2008
RES 3: Jpy96.42 – High Aug 18 2008
RES 2: Jpy93.24 – Low Aug 14 2008
RES 1: Jpy91.75 – High Jan 2
LATEST PRICE: 91.28
SUP 1: Jpy89.92 – Low Jan 2
SUP 2: Jpy88.90 – Low Dec 28
SUP 3: Jpy88.54 – 21 day moving average
SUP 4: Jpy87.52 – Low Dec 25
USD/KRW: Fresh Lows Continue. USD/KRW made minor fresh lows again yesterday as the pair continues to trade in narrow ranges as it works its way towards the falling daily channel base. 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: Krw1083.5 – 21 day upper Bollinger band
RES 2: Krw1080.8 – Previous support now resistance
RES 1: Krw1072.6 – 21 day moving average
LATEST PRICE: 1063.3
SUP 1: Krw1061.5 – 2013 low Jan 3
SUP 2: Krw1060.4 – Monthly low Sept 2 2011
SUP 3: Krw1048.3 – 2011 low Aug 1 2011
SUP 4: Krw1041.3 – Falling daily channel base
USD/SGD: Pausing Ahead Of 100-DMA. USD/SGD has shot higher overnight taking out layers of resistance on its way to fresh 6 week highs and pausing ahead of the 100-DMA. The Sgd1.2276-96 region now remains key with a close above needed to see focus turn to the Sgd1.2400-50 region with the 200-DMA noted at Sgd1.2444. Downside the pair needs to close back below the Jan 2 lows to refocus lower once more.
RES 4: Sgd1.2339 – High Sept 26
RES 3: Sgd1.2296 – Monthly high Nov 16High
RES 2: Sgd1.2276 – 100 day moving average
RES 1: Sgd1.2271 – Double daily top Nov 19 & 21
LATEST PRICE: 1.2258
SUP 1: Sgd1.2198 – Low Jan 2
SUP 2: Sgd1.2172 – 21 day lower Bollinger band
SUP 3: Sgd1.2169 – Low Dec 18
SUP 4: Sgd1.2153 – 2012 low Oct 22 2012
EasyForexNews Research Team