AUD/USD: $1.0457-77 Region The Next Hurdle. The pair finally took out the 61.8% Fibonacci resistance level with immediate focus now on the $1.0457-77 region, while overall focus turns to the 2013 highs. Initial support is now noted at the $1.0414 level that previously capped the move higher, with a close back below needed to relieve immediate topside pressure. Overall a close back below the Mar 18 $1.0346 low is needed to shift focus lower and back to the Mar 12 lows.
RES 4: $1.0624 – High Sept 14
RES 3: $1.0598 – 2013 high Jan 10 & 11
RES 2 $1.0578 – Double Daily Top Jan 16 & 22
RES 1: $1.0477 – High Jan 30
Latest price: 1.0432
SUP 1: $1.0414 – Previous daily resistance now support
SUP 2: $1.0346 – Low Mar 18
SUP 3: $1.0268 – Low Mar 12
SUP 4: $1.0205 – Low Mar 11
NZD/USD: Pauses Ahead Of Feb 26 High. The cross has taken out the $0.8292 level that had previously capped with this level now seen as initial support. The pair has paused ahead of the Feb 26 highs with this level now initial resistance. The 21 day upper Bollinger band is still heading lower and comes in around the $0.8363 level and it should be noted that closes above are rare. Back below $0.8292 is needed to relieve the immediate bullish focus.
RES 4: $0.8534 – 2013 high Feb 15
RES 3: $0.8416 – High Feb 25
RES 2: $0.8363 – 21 day upper Bollinger band
RES 1: $0.8351 – High Feb 26
Latest price: 0.8329
SUP 1: $0.8292 – Previous daily resistance now support
SUP 2: $0.8157 – Low Dec 26
SUP 3: $0.8124 – 100 week moving average
SUP 4: $0.8056 – Monthly low Nov 16
AUD/JPY: Psychological Jpy100.00 Level Remains A Significant Hurdle. The AUD/JPY has recovered from the dip to fresh two week lows earlier in the week with the immediate focus remaining on retests of the key psychological resistance level and stops noted above. A close above would see focus turn to trading within a Jpy100-105 range, while back below initial support sees focus ratchet lower to the Jpy92.50 Jan 16 lows with the pair having previously bounced significantly from this level.
RES 4: Jpy104.5 – 2008 high Jul 21
RES 3: Jpy100.7 – High Aug 5 2008
RES 2: Jpy100.0 – Psychological Resistance
RES 1: Jpy99.96 – 2013 high Mar 14
Latest price: 99.14
SUP 1: Jpy97.60 – Low Mar 18
SUP 2: Jpy97.13 – 21 day moving average
SUP 3: Jpy94.45 – Low Mar 1
SUP 4: Jpy92.50 – Low Jan 16
USD/KRW: Rising Daily Channel Top Remains Targeted. The pair retreated a little from fresh 2013 highs set earlier in the week but overall focus very much remains topside with the rising daily channel top remaining our initial target. The 21 day upper Bollinger band (Krw1119.9) continues to rise with spikes above expected to continue while the pair remains supported by the 200-DMA. A close below would shift focus back to the Krw1091.7-1097.4 support region with 21-DMA noted at Krw1097.4.
RES 4: Krw1136.2 – 61.8% retracement of 1186.7-1054.5 move
RES 3: Krw1126.2 – Rising daily channel top
RES 2: Krw1124.8 – Previous daily support now resistance
RES 1: Krw1120.6 – 50% retracement of 1186.7-1054.5 move
Latest price: 1116.0
SUP 1: Krw1105.7 – 200 day moving average
SUP 2: Krw1101.7 – Low Mar 14
SUP 3: Krw1094.1 – Low Mar 12
SUP 4: Krw1091.7 – Rising daily channel base
USD/SGD: Pulls Back From 2013 High. The cross has pulled back from the fresh 2013 and 7 month highs set on Wednesday with a close back below the Sgd1.2461 support needed to relieve the immediate topside pressure, while back below theSgd1.2424 level is needed to see focus turn to the Sgd1.2309-24 support region. The upper 21 day Bollinger band continues to head higher with spikes above expected to resume although correcting O/B daily techs studies should be noted.
RES 4: Sgd1.2609 – Rising daily channel top
RES 3: Sgd1.2556 – High Aug 28
RES 2: Sgd1.2545 – 21 day upper Bollinger band
RES 1: Sgd1.2529 – 2013 High Mar 20
Latest price: 1.2489
SUP 1: Sgd1.2461 – Low Mar 12 & 13
SUP 2: Sgd1.2424 – Low Mar 4
SUP 3: Sgd1.2334 – Low Jan 30
SUP 4: Sgd1.2309 – Previous daily resistance now support
EasyForexNews Research Team