AUD/USD: Jan 25 High Key Resistance Today. The move lower continues for the AUD/USD with a bearish close to end last week in NY and the lowest levels seen in 3 weeks. The Dec monthly lows remain the immediate focus for the pair with a close above Friday’s high needed to relieve the immediate bearish pressure. The $1.0370-80 region may provide some support and slow the move a little give the Jan 2 low, Ichimoku cloud base and 21 day lower Bollinger band are noted in this region.
RES 4: $1.0598 – High Jan 10 & 11
RES 3: $1.0578 – High Jan 16 & 22
RES 2: $1.0502 – 21 day moving average
RES 1: $1.0467 – High Jan 25
LATEST PRICE: 1.0412
SUP 1: $1.0377 – Low Jan 2
SUP 2: $1.0346 – Monthly low Dec 26
SUP 3: $1.0310 – 200 day moving average
SUP 4: $1.0290 – Monthly low Nov 16
NZD/USD: $0.8336-0.8459 Continues To Define. The pair is doing little and trading sideways within a broad $0.8336-0.8459 range. 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: $0.8482 – 21 day upper Bollinger band
RES 2: $0.8474 – 2012 High Dec 14
RES 1: $0.8459 – High Jan 11
LATEST PRICE: 0.8377
SUP 1: $0.8336 – Low Jan 21
SUP 2: $0.8260 – 100 day moving average
SUP 3: $0.8215 – Low Jan 4
SUP 4: $0.8157 – Monthly low Dec 26
AUD/JPY: Threatening Another Leg Higher. The AUD/JPY briefly popped to fresh highs to end the week and we will continue to look for a close above the Jpy95.00 level as confirmation another leg higher is underway. The 21-DMA continues to climb but we will look for a move back below the Jan 16 low to relieve the immediate bullish pressure and see focus turn to a correction.
RES 4: Jpy100.9 – High Aug 4 2008
RES 3: Jpy96.42 – High Aug 18 2008
RES 2: Jpy96.27- 21 day upper Bollinger band
RES 1: Jpy95.08 – High Jan 25
LATEST PRICE: 94.73
SUP 1: Jpy92.90 – 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: Fresh 8 Week Highs. USD/KRW managed fresh 8 week highs to end last week and today we will look for a close back below Friday’s low to relieve the current bullish pressure. Immediate focus is on the 100-DMA at Krw1089.6 and then the Krw1109.7 level above that previously supported on the way down. Consolidation is expected today as the pair pauses to allow the sharply rising 21 day upper Bollinger band to catch up a little.
RES 4: Krw1109.7 – Previous daily support now resistance
RES 3: Krw1094.4 – High Nov 16
RES 2: Krw1089.6 – 100 day moving average
RES 1: Krw1085.6 – High Nov 29
LATEST PRICE: 1082.8
SUP 1: Krw1069.8 – Low Jan 25
SUP 2: Krw1061.3 – Low Jan 22
SUP 3: Krw1054.5 – 2013 low Jan 11
SUP 4: Krw1051.2 – 21 day lower Bollinger band
USD/SGD: Highest Levels Since Early Sept. USD/SGD rallied to the highest level since early Sept to end the week but is expected to consolidate the move today as the sharply rising 21 day upper Bollinger band (Sgd1.2325) catches up. The Sgd1.2309 level that was previously noted as resistance is now seen as initial support with a close below needed to relieve the immediate bullish pressure with initial focus now on the Sgd1.2399-21 region.
RES 4: Sgd1.2556 – Monthly high Aug 28
RES 3: Sgd1.2421 – 200 day moving average
RES 2: Sgd1.2399 – Previous daily support now resistance
RES 1: Sgd1.2373 – High Jan 25
LATEST PRICE: 1.2348
SUP 1: Sgd1.2309 – Previous daily resistance now support
SUP 2: Sgd1.2223 – Low Jan 11
SUP 3: Sgd1.2200 – 21 day lower Bollinger band
SUP 4: Sgd1.2198 – Low Jan 2
EasyForexNews Research Team