AUD/USD: $1.0220-1.0374 Range For Now. The pair ontinues to whip around in the recently defining $1.0220-1.0374 range with layers of support noted in the $1.0200-20 region and layers of resistance in the $1.0374-98 region. Topside the pair needs to close above the Feb 15 high to relieve the current bearish focus that targets spikes below the 21 day lower Bollinger band and an overall test of the key $1.0150 monthly low from Oct 8 2012.
RES 4: $1.0578 – High Jan 16 & 22
RES 3: $1.0477 – High Jan 30
RES 2: $1.0398 – High Feb 6
RES 1: $1.0374 – High Feb 15
Latest price: 1.0290
SUP 1: $1.0218 – 21 day lower Bollinger band
SUP 2: $1.0203 – Low Oct 15
SUP 3: $1.0150 – Monthly low Oct 8
SUP 4: $1.0101 – Monthly low Jul 12
NZD/USD: 21-DMA Caps Bounce To End Last Week. The NZD paused ahead of initial resistance on Friday following the bounce from ahead of layers of support in the $0.8265-00 region including the 21-WMA at $0.8287. Flat Bollinger bands suggest further sideways trading within the recent $0.8280-0.8530 range expected for now. A close above the Feb 15 high or below the Ichimoku cloud base is needed to signal the next decent move.
RES 4: $0.8568 – Monthly high Aug 31 2011
RES 3: $0.8534 – High Feb 15
RES 2: $0.8506 – 21 day upper Bollinger band
RES 1: $0.8403 – 21 day moving average
Latest price: 0.8391
SUP 1: $0.8300 – 21 day lower Bollinger band
SUP 2: $0.8293 – 100 day moving average
SUP 3: $0.8281 – Weekly low Jan 28
SUP 4: $0.8265 – Ichimoku cloud base
AUD/JPY: Familiar Range Remains In Play. The cross continues to trade sideways within the well worn Jpy95.08-97.40 range. A close outside of these parameters is needed to signal the next move with a close below Jpy95.08 expected to see the Jan 16 low retested while above Jpy97.40 sees the pair resume its march towards the key Jpy100.00 psychological resistance level. The 21 day upper Bollinger band is noted at the Jpy97.63 level with closes above rarely seen.
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: Jpy97.05 – High Feb 20
Latest price: 96.42
SUP 1: Jpy95.08 – Previous daily resistance now support
SUP 2: Jpy94.59 – 21 day lower Bollinger band
SUP 3: Jpy94.13 – Low Jan 28
SUP 4: Jpy92.50 – Low Jan 16
USD/KRW: More Krw1077-1099 Expected This Week. The pair pulled back from last week’s highs to end the week but still needs to close below the Krw1077.0 level to see focus return to retests of 2013 lows. Topside the double daily top around the Krw1098.6 level remains key with a close above needed to shift focus to the Krw1110-18 region with the 200-DMA noted at Krw1112.9.
RES 4: Krw1113.3 – 200 day moving average
RES 3: Krw1109.7 – Previous daily support now resistance
RES 2: Krw1107.4 – High Oct 23
RES 1: Krw1098.6 – High Feb 1
Latest price: 1085.8
SUP 1: Krw1078.7 – 21 day lower Bollinger band
SUP 2: Krw1077.0 – Low Feb 20
SUP 3: Krw1069.8 – Low Jan 25
SUP 4: Krw1061.3 – Low Jan 22
USD/SGD: Feb 12 High Remains Key Resistance. USD/SGD couldn’t sustain levels above the 200-DMA and slipped back towards the rising daily channel base support to end last week. The Feb 12 high remains key to the continuation higher with a close above needed to kickstart topside momentum. Daily tech studies have room to move topside should another leg higher unfold. Jan 30 lows remain key support with a close below needed to shift focus back to the $1.2198-23 region.
RES 4: Sgd1.2513 – Rising daily channel top
RES 3: Sgd1.2482 – 100 week moving average
RES 2: Sgd1.2454 – High Feb 12
RES 1: Sgd1.2422 – 21 day upper Bollinger band
Latest price: 1.2374
SUP 1: Sgd1.2366 – Rising daily channel base
SUP 2: Sgd1.2334 – Low Jan 30
SUP 3: Sgd1.2309 – Previous daily resistance now support
SUP 4: Sgd1.2223 – Low Jan 11
EasyForexNews Research Team