AUD/USD: Layers Of Resistance $1.0583-24. The AUD/USD is drifting back towards the initial resistance noted at $1.0527. A close above is needed to kick start topside momentum and see the pair focus on layers of resistance in the $1.0583-24 region with the $1.0624 Sept monthly highs seen as key. Initial support remains at the 21-DMA with a close below now needed to reconfirm immediate focus on the $1.0290-00 region and then the $1.0150 level below.
RES 4: $1.0624 – Monthly high Sept 14
RES 3: $1.0599 – 21 day upper Bollinger band
RES 2: $1.0583 – Monthly High Dec 12
RES 1: $1.0527 – High Jan 2
LATEST PRICE: 1.0505
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: Above $0.8392 Needed To Refocus Higher. The pair has made its way back to the $0.8360-90 resistance region we mentioned yesterday with a close above the Jan 2 high needed to kick start topside momentum and see initial focus return to the 2012 highs. While the Jan 2 highs cap the risk of a pullback to the $0.8150-10 region remains. Daily tech studies have room to move topside before becoming overbought is an issue.
RES 4: $0.8568 – High Aug 31
RES 3: $0.8490 – 21 day upper Bollinger band
RES 2: $0.8474 – 2012 High Dec 14
RES 1: $0.8392 – High Jan 2
LATEST PRICE: 0.8370
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: Jpy95.00 Level Remains Targeted. Fresh 4 year highs again for AUD/JPY yesterday but the pair has managed to close below Friday’s closing level and marginally below the sharply rising 21 day upper Bollinger band (Jpy92.35). We will continue to look for a close below the Jan 4 low to relieve the immediate topside pressure while below the 21-DMA is needed to end the current trend. Topside the Jpy95.00 level remains the initial focus.
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: Jpy92.83 – High Jan 7
LATEST PRICE: 92.23
SUP 1: Jpy91.13 – Low Jan 4
SUP 2: Jpy89.92 – Low Jan 2
SUP 3: Jpy89.09 – 21 day moving average
SUP 4: Jpy88.90 – Low Dec 28
USD/KRW: Finds Support At 2013 Low. USD/KRW retested the 2013 low set on Jan 3 yesterday before bouncing a little as narrow ranges persist. The 21-DMA remains the initial resistance with a close above needed to relieve the immediate downside pressure as the pair continues to drift toward the falling daily channel base. Overall we will continue to look for a close above the Krw1080.8 resistance level to end the current down trend.
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: Krw1070.9 – 21 day moving average
LATEST PRICE: 1063.7
SUP 1: Krw1061.5 – 2013 low Jan 3 & Jan 7
SUP 2: Krw1060.4 – Monthly low Sept 2 2011
SUP 3: Krw1048.3 – 2011 low Aug 1 2011
SUP 4: Krw1039.9 – Falling daily channel base
USD/SGD: Jan 4 Low Seen As Pivotal Support. Despite the spike to fresh 3 month highs for the USDSGD the soft close once again in NY is of concern. Overall while the Jan 4 low supports the risk of a continuation higher that retests of the Sgd1.2400-40 region remains. A close back below the Jan 4 low would see the initial focus return to retests of the Jan 2 lows and then the 2012 lows beneath.
RES 4: Sgd1.2441 – 200 day moving average
RES 3: Sgd1.2399 – Previous daily support now resistance
RES 2: Sgd1.2339 – High Sept 26
RES 1: Sgd1.2330 – High Jan 7
LATEST PRICE: 1.2290
SUP 1: Sgd1.2259 – Low Jan 4
SUP 2: Sgd1.2198 – Low Jan 2
SUP 3: Sgd1.2169 – Low Dec 18
SUP 4: Sgd1.2162 – 21 day lower Bollinger band
EasyForexNews Research Team