AUD/USD: 100-DMA Now Initial Focus. Following the repeated failures in the $1.0570-80 region for the past two weeks the AUD/USD has finally broken lower as daily tech studies correct back to more neutral levels. The 100-DMA now remains the initial focus for the AUD/USD and then the Dec monthly lows. The $1.0530 level has been somewhat pivotal for the AUD/USD and we will look for a close above to relieve the immediate downside pressure with the pair hovering just above recent lows.
RES 4: $1.0624 – Monthly high Sept
RES 3: $1.0598 – High Jan 10 & 11
RES 2: $1.0578 – High Jan 16 & 22
RES 1: $1.0529 – Hourly resistance Jan 24
LATEST PRICE: 1.0450
SUP 1: $1.0416 – 100 day moving average
SUP 2: $1.0377 – Low Jan 2
SUP 3: $1.0346 – Monthly low Dec 26
SUP 4: $1.0310 – 200 day moving average
NZD/USD: $0.8336-0.8459 Continues To Define. The pair continues to remain largely sideways within a broad $0.8336-0.8459 range that has defined recently. The $0.8459-92 region remains
key topside with a close above the 2012 highs needed to kick start topside momentum and see focus shift higher to potential retests of the $0.8830-50 region. Below the Jan 21 low sees immediate focus shift to retests of the Jan 4 low.
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: $0.8459 – High Jan 11
LATEST PRICE: 0.8381
SUP 1: $0.8336 – Low Jan 21
SUP 2: $0.8258 – 100 day moving average
SUP 3: $0.8215 – Low Jan 4
SUP 4: $0.8157 – Monthly low Dec 26
AUD/JPY: Consolidating At Lofty Levels. The AUD/JPY is trading sideways at the upper end of the recent weekly ranges with a move back below the Jan 16 low needed to relieve the remaining topside aspirations and see focus turn to a correction. Daily tech studies are slowly correcting from overbought levels. Topside a break higher is expected to see the pair begin to trade in the Jpy95.00-100.00 band.
RES 4: Jpy100.9 – High Aug 4 2008
RES 3: Jpy96.42 – High Aug 18 2008
RES 2: Jpy96.26- 21 day upper Bollinger band
RES 1: Jpy95.02 – High Jan 18
LATEST PRICE: 94.55
SUP 1: Jpy92.65 – 21 day moving average
SUP 2: Jpy92.50 – Low Jan 16
SUP 3: Jpy91.13 – Low Jan 4
SUP 4: Jpy89.92 – Low Jan 2
USD/KRW: Approaching Upper Bollinger Band. Higher daily lows and highs continue for USD/KRW with initial focus remaining on retests of the Krw1080.8 resistance level. Daily tech studies have
worked off their oversold condition and are no longer the issue they previously were. The Krw1080.8 level remains key resistance with a close above needed to return overall focus to retests of the 200-DMA (Krw1118.7).
RES 4: Krw1090.8 – 100 day moving average
RES 3: Krw1085.6 – High Nov 29
RES 2: Krw1080.8 – Previous support now resistance
RES 1: Krw1071.4 – 21 day upper Bollinger band
LATEST PRICE: 1069.4
SUP 1: Krw1061.3 – Low Jan 22
SUP 2: Krw1054.5 – 2013 low Jan 11
SUP 3: Krw1052.9 – 21 day lower Bollinger band
SUP 4: Krw1048.3 – 2011 low Aug 1 2011
USD/SGD: Sgd1.2309-30 To Cap Today. USD/SGD is expected to remain confined to the Sgd1.2223-1.2330 range to see out the week with the Jan 11 low seen as somewhat pivotal support. Topside the Sgd1.2309-30 region remains key with a close above needed to bring the Sgd1.2399-22 region back into focus. The 21 day upper Bollinger band is gently rising with spikes above expected to continue while Sgd1.2223 remains in play.
RES 4: Sgd1.2422 – 200 day moving average
RES 3: Sgd1.2399 – Previous daily support now resistance
RES 2: Sgd1.2330 – High Jan 7
RES 1: Sgd1.2309 – High Jan 22
LATEST PRICE: 1.2292
SUP 1: Sgd1.2223 – Low Jan 11
SUP 2: Sgd1.2201 – 21 day lower Bollinger band
SUP 3: Sgd1.2198 – Low Jan 2
SUP 4: Sgd1.2169 – Low Dec 18
EasyForexNews Research Team