AUD/USD: $1.0370-80 Holds On First Attempt. The pair managed fresh 4 week lows to start the week, pausing just ahead of the initial $1.0370-80 support region mentioned yesterday. The pair remains little changed from Friday’s NY close and we will continue to look for a close above the Jan 25 high to relieve the current bearish pressure. The $1.0370-80 region remains key support with the rising 21 day lower Bollinger band, Ichimoku cloud base and Jan 2 lows falling in this region.
RES 4: $1.0598 – High Jan 10 & 11
RES 3: $1.0578 – High Jan 16 & 22
RES 2: $1.0504 – 21 day moving average
RES 1: $1.0467 – High Jan 25
LATEST PRICE: 1.0418
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: Fresh 4 Week Lows. Stops triggered below the $0.8330 level yesterday saw the Kiwi trade at fresh 4 week lows, pausing just ahead of the 100-DMA, Ichimoku cloud base and the lower 21 day Bollinger band. With daily tech studies back at more neutral levels we will look for a close above yesterday’s high to remove the current focus from the Jan 4 low and then Dec monthly lows beneath.
RES 4: $0.8474 – 2012 High Dec 14
RES 3: $0.8464 – 21 day upper Bollinger band
RES 2: $0.8459 – High Jan 11
RES 1: $0.8365 – High Jan 28
LATEST PRICE: 0.8341
SUP 1: $0.8281 – Low Jan 28
SUP 2: $0.8263 – 100 day moving average
SUP 3: $0.8215 – Low Jan 4
SUP 4: $0.8157 – Monthly low Dec 26
AUD/JPY: Yesterday’s Low Initial Support. The AUD/JPY is consolidating just below the recent highs and is hinting at another leg higher with a close above the Jan 25 high needed to confirm the next leg higher is underway. We will look to the Jan 28 low as initial support with a close below needed to relieve the current bullish pressure and see a correction back to the Jan 16 low. A close below the Jan 16 low is needed to hint at a deeper correction.
RES 4: Jpy100.9 – High Aug 4 2008
RES 3: Jpy96.42 – High Aug 18 2008
RES 2: Jpy96.14- 21 day upper Bollinger band
RES 1: Jpy95.08 – High Jan 25
LATEST PRICE: 94.65
SUP 1: Jpy94.13 – Low Jan 28
SUP 2: Jpy93.18 – 21 day moving average
SUP 3: Jpy92.50 – Low Jan 16
SUP 4: Jpy91.13 – Low Jan 4
USD/KRW: Closes Above 100-DMA. USD/KRW continued to reverse the down trend trading above the Nov 16 high and Ichimoku cloud top by a pip. Immediate focus remains on the Krw1109.7 resistance level with a close back below yesterday’s low needed to relieve the current bullish pressure. Daily tech studies are approaching overbought levels and with the pair well above the rising 21 day upper Bollinger band a period of consolidation may emerge in the coming days.
RES 4: Krw1123.9 – High Sept 20
RES 3: Krw1117.6 – 200 day moving average
RES 2: Krw1109.7 – Previous daily support now resistance
RES 1: Krw1094.5 – High Jan 28
LATEST PRICE: 1090.4
SUP 1: Krw1079.7 – Low Jan 28
SUP 2: Krw1069.8 – Low Jan 25
SUP 3: Krw1061.3 – Low Jan 22
SUP 4: Krw1054.5 – 2013 low Jan 11
USD/SGD: Pauses Ahead Of 200-DMA. USD/SGD continued to head higher to start the week, pausing just ahead of the 200-DMA after popping above the previous Sgd1.2399 resistance level. We will now look for a close below yesterday’s low to relieve the current topside pressure with the 200-DMA remaining key resistance. It is worth noting the pair has not managed a close above the 200-DMA since late July 2012.
RES 4: Sgd1.2644 – High July 25
RES 3: Sgd1.2556 – Monthly high Aug 28
RES 2: Sgd1.2421 – 200 day moving average
RES 1: Sgd1.2404 – High Jan 28
LATEST PRICE: 1.2381
SUP 1: Sgd1.2343 – Low Jan 28
SUP 2: Sgd1.2309 – Previous daily resistance now support
SUP 3: Sgd1.2223 – Low Jan 11
SUP 4: Sgd1.2183 – 21 day lower Bollinger band
EasyForexNews Research Team