AUD/USD: March Monthly Highs Capping For Now. The pair has put in a double daily top at the $1.0497 Mar monthly high resistance level with a further trading within a $1.0386-1.0497 range favoured until a break above is seen. The 21-DMA ($1.0381) comes in just below the 200-DMA today, adding significance to the initial support. A close below would see immediate focus turn to the Mar 12 lows and then the 2013 lows beneath. Above the $1.0497 sees focus turn to the 2013 highs.
RES 4: $1.0598 – Double Daily Top & 2013 high Jan 10 & 11
RES 3: $1.0578 – Double Daily Top Jan 16 & 22
RES 2: $1.0534 – 21 day upper Bollinger band
RES 1: $1.0497 – Monthly high Mar 26
Latest price: 1.0472
SUP 1: $1.0387 – 200 day moving average
SUP 2: $1.0346 – Low Mar 18
SUP 3: $1.0268 – Low Mar 12
SUP 4: $1.0205 – Low Mar 11
NZD/USD: Fresh 6 Week Highs Again Overnight. Marginally fresh 6 week highs again for the Kiwi yesterday as it again tested the sharply rising 21 day upper Bollinger band with immediate focus remaining on the $0.8489-34 resistance region. A close back below the Mar 25 low remains needed to relieve the current bullish focus with back below the $0.8292 level needed to confirm that a deeper correction is underway. Daily tech studies are approaching overbought which could become an issue.
RES 4: $0.8568 – High Aug 31
RES 3: $0.8534 – 2013 high Feb 15
RES 2: $0.8489 – High Feb 19
RES 1: $0.8447 – 21 day upper Bollinger band
Latest price: 0.8423
SUP 1: $0.8369 – Low Apr 2
SUP 2: $0.8337 – Low Mar 25
SUP 3: $0.8292 – Previous daily resistance now support
SUP 4: $0.8157 – Monthly low Dec 26
AUD/JPY: Remains Heavy, 21-DMA Initial Resistance. AUD/JPY continues to remain heavy, with the rising daily trend line off Nov 9 lows seen as key support. A close below would see the overall focus turn to the Jpy92.50 support from Jan 16 with the 100-DMA noted just above today around Jpy92.94. Topside the pair needs to close above the 21-DMA to see focus return to the key psychological Jpy100.00 resistance level that capped attempts to break higher during March
RES 4: Jpy104.5 – 2008 high Jul 21
RES 3: Jpy100.7 – High Aug 5 2008
RES 2: Jpy99.96 – 2013 high Mar 14
RES 1: Jpy98.44 – 21 day moving average
Latest price: 97.21
SUP 1: Jpy96.55 – Rising daily trend line
SUP 2: Jpy95.46 – Ichimoku cloud top
SUP 3: Jpy94.45 – Low Mar 1
SUP 4: Jpy92.50 – Low Jan 16
USD/KRW: Hesitating Ahead Of Initial Resistance. The cross managed minor fresh 6 month highs again yesterday before dipping a little to close just off the day’s highs. Initial support remains at the Apr 2 lows with the 21-DMA noted just below around Krw1108.9. A close below this region is needed to relieve the immediate bullish pressure with back below the Krw1101.7-1103.8 region needed to see focus return to the Krw1077-82 support region
RES 4: Krw1136.2 – 61.8% retracement of 1186.7-1054.5 move
RES 3: Krw1133.5 – Rising daily channel top
RES 2: Krw1128.5 – 21 day upper Bollinger band
RES 1: Krw1124.8 – Previous daily support now resistance
Latest price: 1119.4
SUP 1: Krw1110.9 – Low Apr 2
SUP 2: Krw1103.8 – 200 day moving average
SUP 3: Krw1101.7 – Low Mar 14
SUP 4: Krw1099.0 – Rising daily channel base
USD/SGD: Apr 1 Highs Remain Initial Resistance. USD/SGD continues to dip below the 21 day lower Bollinger band (Sgd1.2373) as it works its way lower towards the key Sgd1.2309-34 support region. A close back above the Apr 1 high is needed to relieve the current bearish pressure while a close above the 21-DMA is needed to see focus return to retests of the March monthly and 2013 highs. The pair is also dipping below the Ichimoku cloud top with a close below likely to add to bearish pressure.
RES 4: Sgd1.2556 – High Aug 28
RES 3: Sgd1.2529 – 2013 High Mar 20
RES 2: Sgd1.2456 – 21 day moving average
RES 1: Sgd1.2425 – High Apr 1
Latest price: 1.2382
SUP 1: Sgd1.2370 – Ichimoku cloud top
SUP 2: Sgd1.2361 – 200 day moving average
SUP 3: Sgd1.2334 – Low Jan 30
SUP 4: Sgd1.2309 – Previous daily resistance now support
EasyForexNews Research Team