AUD/USD: Dipping Back Towards 21-DMA. Following an inside week for the pair last week the AUD/USD begins the new week with initial focus on retests of the 21-DMA and overall focus remaining on the Dec monthly low. Topside the pair needs to close above the Jan 16 highs to relieve the current downside pressure while above the double daily top at $1.0598 is needed to see the key Sept monthly high back in focus.
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: 1.0511
SUP 1: $1.0472 – 21 day moving average
SUP 2: $1.0406 – 100 day moving average
SUP 3: $1.0377 – Low Jan 2
SUP 4: $1.0346 – Monthly low Dec 26
NZD/USD: Focus Remains On Lower Levels. Overbought daily Slow Stochastic and RSI indicators are slowly correcting and weighing on the pair with initial focus remaining on retests of the 21-DMA. An inside week last week and the failure to take out the 2012 high combined with the correcting overbought daily tech studies increase the risk of a deeper correction back towards Dec monthly lows.
RES 4: $0.8568 – High Aug 31
RES 3: $0.8483 – 21 day upper Bollinger band
RES 2: $0.8474 – 2012 High Dec 14
RES 1: $0.8459 – High Jan 11
LATEST PRICE: 0.8369
SUP 1: $0.8337 – Low Jan 18
SUP 2: $0.8320 – 21 day moving average
SUP 3: $0.8248 – Previous Resistance Now Support
SUP 4: $0.8241 – 100 day moving average
AUD/JPY: Jpy95.00-100.00 Region Key This Week. AUD/JPY is pausing ahead of the Jpy95.00-100.00 region with initial support noted at Friday’s lows. We will continue to look for a move back below the Jan 16 low to relieve the persistent bullish pressure while a close below the 21-DMA remains needed to hint at an end to the current uptrend. The 21 day upper Bollinger continues to head sharply higher with retests expected until topside pressure is relieved.
RES 4: Jpy100.9 – High Aug 4 2008
RES 3: Jpy96.42 – High Aug 18 2008
RES 2: Jpy96.25- 21 day upper Bollinger band
RES 1: Jpy95.02 – High Jan 18
LATEST PRICE: 94.71
SUP 1: Jpy94.20 – Hourly support Jan 18
SUP 2: Jpy92.50 – Low Jan 16
SUP 3: Jpy91.23 – 21 day moving average
SUP 4: Jpy91.13 – Low Jan 4
USD/KRW: Fresh 2013 Lows Remain Favoured. The pair continues to trade sideways in a narrow range just above the recent fresh 2013 low. We will now look for a close above the Jan 14 high to relieve the immediate bearish pressure while above the Krw1080.8 resistance level is needed to end the current move lower. Daily tech studies remain oversold but are having little impact at the moment.
RES 4: Krw1080.8 – Previous support now
RES 3: Krw1076.8 – 21 day upper Bollinger band
RES 2: Krw1066.5 – High Jan 14
RES 1: Krw1064.0 – 21 day moving average
LATEST PRICE: 1058.3
SUP 1: Krw1054.5 – 2013 low Jan 11
SUP 2: Krw1051.2 – 21 day lower Bollinger band
SUP 3: Krw1048.3 – 2011 low Aug 1 2011
SUP 4: Krw1033.6 – Falling daily channel base
USD/SGD: Sgd1.2220-1.2330 To Define This Week. USD/SGD reversed sharply higher on Friday with the pair now looking like remaining confined to a Sgd1.2223-1.2330 range this week with the Jan 11 low now seen as somewhat pivotal support. With the 21 day upper Bollinger band just above initial resistance it adds significance to the Sgd1.2290-00 region. Back below the Jan 2 low is now needed to shift focus lower once more.
RES 4: Sgd1.2426 – 200 day moving average
RES 3: Sgd1.2399 – Previous daily support now resistance
RES 2: Sgd1.2330 – High Jan 7
RES 1: Sgd1.2292 – High Jan 9
LATEST PRICE: 1.2277
SUP 1: Sgd1.2223 – Low Jan 11
SUP 2: Sgd1.2198 – Low Jan 2
SUP 3: Sgd1.2189 – 21 day lower Bollinger band
SUP 4: Sgd1.2169 – Low Dec 18
EasyForexNews Research Team