AUD/USD: Focus Returns To Sept Monthly Highs. After remaining capped at the Nov 20 highs for most of Friday the pair close above this level which now sees focus shift back to retests of the Sept monthly highs. The $1.0420 level is now initial support but we will look for a close below the Nov 20 lows to see focus turn lower once more. The Pair managed a spike above the 21 day upper Bollinger with more to come.
RES 4: $1.0624 – Monthly high Sept 14
RES 3: $1.0518 – High Sept 21
RES 2: $1.0480 – High Nov 7
RES 1: $1.0460 – 21 day upper Bollinger band
LATEST PRICE: 1.0455
SUP 1: $1.0420 – Previous daily resistance now support
SUP 2: $1.0359 – Low Nov 20
SUP 3: $1.0319 – 21 day lower Bollinger band
SUP 4: $1.0238 – Low Oct 23
NZD/USD: Above Upper Bollinger Favoured. The pair finally managed to take out the key resistance region to end the week with the close seeing focus return to retests of the Sept monthly highs and a close below the 21-DMA needed to negate this view. Resistance is expected in the $0.8290-10 region with spikes above the upper 21 day Bollinger band expected to recommence.
RES 4: $0.8356 – Monthly high Sept 28
RES 3: $0.8307 – Monthly high Nov 7
RES 2: $0.8289 – 21 day upper Bollinger band
RES 1: $0.8250 – High Nov 23
LATEST PRICE: 0.8234
SUP 1: $0.8189 – 21 day moving average
SUP 2: $0.8089 – 21 day lower Bollinger band
SUP 3: $0.8072 – 200 day moving average
SUP 4: $0.8009 – 100 week moving average
AUD/JPY: Fresh 2012 Highs Possible This Week. The pair managed to close the week at the highest level since early April as it continues to work its way towards the 2012 highs. Initial support is noted at Friday’s lows with a close below needed to relieve immediate topside pressure, while a close below the 21-DMA is needed to end the current bullish move and refocus lower.
RES 4: Jpy89.63 – High Apr 28 2011
RES 3: Jpy88.64 – 2012 high Mar 19
RES 2: Jpy87.57 – High Mar 27
RES 1: Jpy86.81 – Monthly high Apr 2
LATEST PRICE: 86.18
SUP 1: Jpy85.35 – Low Nov 23
SUP 2: Jpy84.17 – Low Nov 19
SUP 3: Jpy83.66 – 21 day moving average
SUP 4: Jpy82.99 – Low Nov 15
USD/KRW: Fresh 2012 Lows Remain Favoured. The 21-DMA remains key to relieving immediate downside pressure that has been in play following the pullback from 2012 highs in early June. We will look for a close above the Nov 16 high as confirmation of a break of the 21-DMA with immediate focus then returning to the Krw1110-1125 region. While the downtrend remains so does the likelihood of fresh 2012 lows.
RES 4: Krw1117.4 – High Oct 11
RES 3: Krw1109.9 – Previous daily support now resistance
RES 2: Krw1094.4 – High Nov 16
RES 1: Krw1190.0 – 21 day moving average
LATEST PRICE: 1085.1
SUP 1: Krw1080.8 – 2012 low Nov 22
SUP 2: Krw1060.8 – Falling daily channel base
SUP 3: Krw1060.4 – Monthly low Sept 2
SUP 4: Krw1048.3 – 2011 low Aug 1
USD/SGD: Sgd1.2150-1.2300 Likely This Week. After failing to retest the Nov 16 highs last week USD/SGD has closed back below the 21-DMA with close below the Nov 7 lows needed to confirm a shift in focus (albeit within narrow ranges) back to fresh 2012 lows. Topside the pair now needs to close above the Nov 16 highs to kick start topside momentum and end the Sgd1.2150-1.2300 range trading.
RES 4: Sgd1.2372 – High Sept 11
RES 3: Sgd1.2339 – High Sept 26
RES 2: Sgd1.2296 – High Nov 16
RES 1: Sgd1.2271 – Double daily top Nov 19 & 21
LATEST PRICE: 1.2225
SUP 1: Sgd1.2203 – Low Nov 7
SUP 2: Sgd1.2193 – 21 day lower Bollinger band
SUP 3: Sgd1.2153 – 2012 low Oct 22 2012
SUP 4: Sgd1.2074 – Low Sept 8 2011
EasyForexNews Research Team