AUD/USD: Bounces Back Above Lower Bollinger Band. The AUD/USD dipped to levels just short of the Oct 23 low to end the week before bouncing back above the lower 21 day Bollinger band ($1.0288). We will look for a close back above the Feb 8 high to relieve the current bearish pressure with overall focus remaining on a retest of the key $1.0150 support level. Back above the Feb 8 high sees immediate focus return to the Jan 30 high.
RES 4: $1.0477 – High Jan 30
RES 3: $1.0463 – 21 day moving average
RES 2: $1.0398 – High Feb 6
RES 1: $1.0346 – High Feb 8
Latest price: 1.0313
SUP 1: $1.0238 – Low Oct 23
SUP 2: $1.0150 – Monthly low Oct 8
SUP 3: $1.0101 – Monthly low Jul 12
SUP 4: $0.9972 – Low Jun 25
NZD/USD: Inside Day To End The Week. The pair managed an inside day to end the week with back above the Feb 7 high needed to relieve the current bearish focus with tests of the 100-DMA favoured until a close above is seen. It should be noted that layers of support are noted in the $0.8265-81 region including the Ichimoku cloud which should support on initial attempts to head lower.
RES 4: $0.8568 – Monthly high Aug 31 2011
RES 3: $0.8487 – High Feb 1
RES 2: $0.8465 – 21 day upper Bollinger band
RES 1: $0.8400 – High Feb 7
Latest price: 0.8355
SUP 1: $0.8281 – Weekly low Jan 28
SUP 2: $0.8275 – 100 day moving average
SUP 3: $0.8265 – Ichimoku cloud base
SUP 4: $0.8215 – 2013 low Jan 4
AUD/JPY: 21-DMA Just Below. AUD/JPY continues to record lower daily highs and lows as it heads towards the next layer of support with the 21-DMA noted just below at Jpy95.01. A close back below this level helps to further relieve topside pressure and see immediate focus return to retests of the Jan 16 level. Topside the pair needs to close back above Friday’s high to hint at revisiting recent highs.
RES 4: Jpy99.93 – High Aug 7 2008
RES 3: Jpy98.23 – High Aug 11 2008
RES 2: Jpy97.40 – High Feb 5 & 6
RES 1: Jpy96.45 – High Feb 8
Latest price: 95.58
SUP 1: Jpy95.08 – Previous daily resistance now support
SUP 2: Jpy94.13 – Low Jan 28
SUP 3: Jpy92.50 – Low Jan 16
SUP 4: Jpy91.13 – Low Jan 3
USD/KRW: Spike Pauses Ahead Of Recent High. USD/KRW managed a spike towards the Feb 1 high to end the week but ended little changed on the day with overbought daily tech studies possible hampering current attempts higher. Overall the 200-DMA remains the focus until the pair can manage a close back below the Jan 28 low. The upper Bollinger band heads sharply higher with spikes above expected to resume.
RES 4: Krw1123.9 – High Sept 20
RES 3: Krw1116.2 – 200 day moving average
RES 2: Krw1109.7 – Previous daily support now resistance
RES 1: Krw1098.6 – High Feb 1
Latest price: 1092.9
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: 200-DMA Caps Again. USD/SGD closed the week lower than opening levels with the 200-DMA capping the attempt higher on Friday. We will continue to look for a close above the 200-DMA to signal the next leg higher but correcting overbought daily tech studies may be impeding the current topside progress. The Jan 30 low remains initial support with a close below needed to relieve current bullish pressure
RES 4: Sgd1.2644 – High July 25
RES 3: Sgd1.2556 – Monthly high Aug 28
RES 2: Sgd1.2487 – 100 week moving average
RES 1: Sgd1.2419 – 200 day moving average
Latest price: 1.2382
SUP 1: Sgd1.2334 – Low Jan 30
SUP 2: Sgd1.2309 – Previous daily resistance now support
SUP 3: Sgd1.2223 – Low Jan 11
SUP 4: Sgd1.2198 – Monthly low Jan 2
EasyForexNews Research Team