AUD/USD: Overall Focus Remains Lower For Now. The pair currently remains focused on retests of the key $1.0290-00 support region. Topside with the pair having failed ahead of the $1.0650 highs in Dec the overall risk remains for a retracement back to the Oct lows but the $1.0290-00 region remains the initial focus. Above the Jan 2 highs is needed to relieve the immediate downside focus. Flat Bollinger bands are suggesting more broad sideways trading ahead.
RES 4: $1.0624 – Monthly high Sept 14
RES 3: $1.0598 – 21 day upper Bollinger band
RES 2: $1.0583 – Monthly High Dec 12
RES 1: $1.0527 – High Jan 2
LATEST PRICE: 1.0481
SUP 1: $1.0461 – 21 day moving average
SUP 2: $1.0392 – 100 day moving average
SUP 3: $1.0339 – Low Nov 21
SUP 4: $1.0324 – 21 day lower Bollinger band
NZD/USD: $0.8360-90 Region Expected To Cap Bounce. The 2012 high remains key resistance for the Kiwi with the pair expected to remain broadly sideways within a $0.8150-0.8470 range for the coming month. Daily tech studies are correcting from oversold levels, which is providing some support for the pair, but resistance in the $0.8360-90 region is likely to slow the bounce from Friday’s lows.
RES 4: $0.8490 – 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: 0.8318
SUP 1: $0.8248 – Previous Resistance Now Support
SUP 2: $0.8209 – 100 day moving average
SUP 3: $0.8149 – 21 day lower Bollinger
SUP 4: $0.8079 – 200 day moving average
AUD/JPY: Fresh 4 Year Highs Continue. AUD/JPY continues to trade at levels last seen back in 2008 with the pair expected to pause for breath a little today to let the sharply rising 21 day upper Bollinger band catch up. The Jan 4 lows are now initial support with a close below needed to relieve the immediate topside pressure and below the 21-DMA needed to end the current trend higher.
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: Jpy92.48 – High Jan 4
LATEST PRICE: 92.39
SUP 1: Jpy91.13 – Low Jan 4
SUP 2: Jpy89.92 – Low Jan 2
SUP 3: Jpy88.90 – Low Dec 28
SUP 4: Jpy88.54 – 21 day moving average
USD/KRW: Remains Heavy, Down Trend Continues. USD/KRW paused ahead of the recent lows on Friday but still needs to close above the 21-DMA to relieve the ongoing downside pressure that sees the pair target the falling daily channel base. Overall we will look for any correction to close above the Krw1080.8 resistance level to end the current down trend and see focus turn higher and back to the 200-DMA (Krw1123.9).
RES 4: Krw1085.2 – Monthly high Dec 4
RES 3: Krw1082.1 – 21 day upper Bollinger band
RES 2: Krw1080.8 – Previous support now resistance
RES 1: Krw1071.7 – 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: Krw1040.6 – Falling daily channel base
USD/SGD: Friday’s Move Lacked Follow Through. The lack of follow through for Friday’s spike to 6 week highs is of some concern and increases the risk of a retest of Friday’s lows. A close below this level today is needed to relieve any topside pressure and see immediate focus turn to retests of the Jan 2 lows. Consolidation is expected today with a retest of Friday’s highs likely to be met with selling pressure. Modestly overbought daily tech studies are expected to slow any spikes higher for now.
RES 4: Sgd1.2442 – 200 day moving average
RES 3: Sgd1.2399 – Previous daily support now resistance
RES 2: Sgd1.2339 – High Sept 26
RES 1: Sgd1.2309 – High Jan 4
LATEST PRICE: 1.2273
SUP 1: Sgd1.2259 – Low Jan 4
SUP 2: Sgd1.2198 – Low Jan 2
SUP 3: Sgd1.2172 – 21 day lower Bollinger band
SUP 4: Sgd1.2169 – Low Dec 18
EasyForexNews Research Team