AUD/USD: Focus Turns To Layers Of Resistance $1.0374-98. The close above the previous $1.0298 resistance level sees focus return to the layers of resistance in the $1.0374-98 region which include the 100-WMA ($1.0389), 21-WMA ($1.0391) and gently rising 21 day upper Bollinger band ($1.0375). We will look for a close above this region to see overall focus return to 2013 highs, but while this region caps the risk remains for a dip back towards the Mar 11 low.
RES 4: $1.0578 – Double Daily Top 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: 1.0318
SUP 1: $1.0268 – Low Mar 12
SUP 2: $1.0205 – Low Mar 11
SUP 3: $1.0169 – 21 day lower Bollinger band
SUP 4: $1.0117 – 2013 low Mar 4
NZD/USD: Remains Capped At Initial Resistance. Recent bounces from just ahead of the 200-DMA continue to fail at the $0.8292 resistance level from Mar 8 with the 21-WMA noted at $0.8297. We will continue to look for a close above to see focus return to the Feb 25 high at $0.8416. While the initial resistance continues to cap the risk remains for further dips towards the 200-DMA with a close below needed to shift focus to Nov monthly lows.
RES 4: $0.8510 – 21 day upper Bollinger band
RES 3: $0.8416 – High Feb 25
RES 2: $0.8351 – High Feb 26
RES 1: $0.8292 – High Mar 8
Latest price: 0.8270
SUP 1: $0.8183 – 200 day moving average
SUP 2: $0.8157 – Low Dec 26
SUP 3: $0.8121 – 100 week moving average
SUP 4: $0.8056 – Low Nov 16
AUD/JPY: Fresh Highs Continue. Another day another fresh 4 and a half year high for AUD/JPY as it continues to edge closer to the psychological Jpy100.00 level. We will look for a close back below the Mar 11 low to relieve the immediate topside pressure, but while the Jpy98.04 level supports oscillation around the upper Bollinger band ((Jpy98.97) is expected to continue. Overall we will look for a close below the Jpy96.00-10 region to shift focus lower.
RES 4: Jpy105.0 – Psychological Resistance
RES 3: Jpy104.5 – 2008 high Jul 21
RES 2: Jpy100.7 – High Aug 5 2008
RES 1: Jpy100.0 – Psychological Resistance
Latest price: 99.18
SUP 1: Jpy98.04 – Low Mar 11
SUP 2: Jpy96.11 – 21 day moving average
SUP 3: Jpy94.45 – Low Mar 1
SUP 4: Jpy92.50 – Low Jan 16
USD/KRW: Bounces Strongly From Lows. The pair briefly dipped below initial support before closing on its highs with initial focus firmly on the Krw1107.4-1107.7 region with the 200-DMA noted at Krw1107.7l. A close below the Mar 12 low is now needed to relieve the current bullish pressure which targets a retest of the Krw1124.8 level on a break above the 200-DMA. Back below Mar 12 lows is needed to shift focus back to the Feb monthly lows around Krw1077.0.
RES 4: Krw1124.8 – Previous daily support now resistance
RES 3: Krw1117.4 – High Oct 11
RES 2: Krw1107.4 – High Oct 23
RES 1: Krw1101.4 – Previous daily support now resistance
Latest price: 1099.4
SUP 1: Krw1094.1 – Low Mar 12
SUP 2: Krw1081.3 – 100 day moving average
SUP 3: Krw1077.0 – Low Feb 20
SUP 4: Krw1069.8 – Low Jan 25
USD/SGD: Mar 4 Lows Key This Week. The cross pulled back from the recent fresh 6 mth highs yesterday but we continue to look for a move back below initial support to remove the current focus from tests of the rising daily channel top and back to the Jan 30 lows. Daily tech studies are modestly overbought and may start to impact rallies so we will watch closely for spikes higher lacking follow through as an indication that a top is forming, but for now focus remains higher.
RES 4: Sgd1.2748 – High July 6
RES 3: Sgd1.2644 – High July 25
RES 2: Sgd1.2577 – Rising daily channel top
RES 1: Sgd1.2509 – 2013 High Mar 11
Latest price: 1.2466
SUP 1: Sgd1.2424 – Low Mar 4
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