AUD/USD: $1.0578-98 Region Remains Key Topside. The pair managed a spike towards the 21-DMA overnight but the bounce into the NY close helps relieve a little of the bearish pressure. With overbought daily tech studies yet to work off their o/b condition while the $1.0578-98 region caps further downside probes remain favoured with the Dec monthly lows remaining the overall target. Above the $1.0598 double daily top would see focus ratchet higher to the Sept monthly high.
RES 4: $1.0690 – High Mar 6
RES 3: $1.0624 – Monthly high Sept
RES 2: $1.0598 – High Jan 10 & 11
RES 1: $1.0578 – High Jan 16
LATEST PRICE: 1.0544
SUP 1: $1.0488 – Low Jan 9
SUP 2: $1.0471 – 21 day moving average
SUP 3: $1.0404 – 100 day moving average
SUP 4: $1.0377 – Low Jan 2
NZD/USD: Daily Tech Studies Remain Overbought. The cross continues to consolidate within the recently defining $0.8363-0.8459 range and we continue to look for a close above the 2012 highs to kick start bullish topside momentum. Overbought daily tech studies that are looking to correct from lofty levels are likely to be weighing on the pair with a break lower remaining favoured until they return to more neutral levels.
RES 4: $0.8568 – High Aug 31
RES 3: $0.8487 – 21 day upper Bollinger band
RES 2: $0.8474 – 2012 High Dec 14
RES 1: $0.8459 – High Jan 11
LATEST PRICE: 0.8417
SUP 1: $0.8363 – Low Jan 11
SUP 2: $0.8321 – 21 day moving average
SUP 3: $0.8248 – Previous Resistance Now Support
SUP 4: $0.8238 – 100 day moving average
AUD/JPY: Edging Closer To The Jpy95.00-100.00 Region. With AUD/JPY closing above the double daily top it negates the previous dip back to Jpy92.50 and sees focus firmly back on the Jpy95.00-100.00 region. Back below the Jan 16 low is now needed to relieve immediate topside pressure while a close below the 21-DMA remains needed to end the current up trend. The upper Bollinger band continues to head sharplyu higher with spikes above expected to recommence.
RES 4: Jpy100.9 – High Aug 4 2008
RES 3: Jpy96.42 – High Aug 18 2008
RES 2: Jpy95.91- 21 day upper Bollinger band
RES 1: Jpy94.95 – High Jan 17
LATEST PRICE: 94.85
SUP 1: Jpy92.50 – Low Jan 16
SUP 2: Jpy91.23 – 21 day moving average
SUP 3: Jpy91.13 – Low Jan 4
SUP 4: Jpy89.93 – Low Jan 1
USD/KRW: Fresh 2013 Lows Remain Favoured For Now. The USD/KRW is holding above support at the 2013 low for the moment but needs to close above the 21-DMA to relieve the overall downside pressure with fresh 2013 lows favoured until this occurs. Overall we will continue to look for a close above the Ktrw1080.8 resistance level to call and end to the current move lower and see focus turn higher.
RES 4: Krw1085.2 – Monthly high Dec 4
RES 3: Krw1080.8 – Previous support now resistance
RES 2: Krw1078.0 – 21 day upper Bollinger band
RES 1: Krw1064.8 – 21 day moving average
LATEST PRICE: 1057.4
SUP 1: Krw1054.5 – 2013 low Jan 11
SUP 2: Krw1051.5 – 21 day lower Bollinger band
SUP 3: Krw1048.3 – 2011 low Aug 1 2011
SUP 4: Krw1034.3 – Falling daily channel base
USD/SGD: Closes Below 21-DMA, Focus Shifts Lower. USD/SGD has finally managed to close below the 21-DMA with initial focus now turning to retests of the Jan 2 low and overall focus on retests of the 2012 low from Oct 17. We will now look for a close back above the Jan 14 highs to relieve downside pressure and see the focus return to retests of the Jan 7 high. Daily tech studies have room to move before becoming oversold is an issue.
RES 4: Sgd1.2330 – High Jan 7
RES 3: Sgd1.2292 – High Jan 9
RES 2: Sgd1.2277 – High Jan 14
RES 1: Sgd1.2238 – 21 day moving average
LATEST PRICE: 1.2234
SUP 1: Sgd1.2198 – Low Jan 2
SUP 2: Sgd1.2181 – 21 day lower Bollinger band
SUP 3: Sgd1.2169 – Low Dec 18
SUP 4: Sgd1.2153 -2012 Low Oct 17
EasyForexNews Research Team