AUD/USD: Bounces From Ahead Of Initial Support. The pair bounced from ahead of the $1.0420 level that previously capped with focus remaining topside on retests of the Sept monthly highs. The 21-DMA remains key and we will continue to look for a close below the Nov 20 lows as confirmation of a break of the 21-DMA. The 21 day upper Bollinger is heading gently higher with spikes above expected.
RES 4: $1.0856 – 2012 high Feb 29
RES 3: $1.0624 – Monthly high Sept 14
RES 2: $1.0518 – High Sept 21
RES 1: $1.0483 – 21 day upper Bollinger band
LATEST PRICE: 1.0476
SUP 1: $1.0428 – Low Nov 28
SUP 2: $1.0403 – 21 day moving average
SUP 3: $1.0359 – Low Nov 20
SUP 4: $1.0323 – 21 day lower Bollinger band
NZD/USD: Bounces From 21-DMA Once More. The NZD confirmed the significance of the 21-DMA support bouncing back towards Nov 7 highs following another test. A close below the 21-DMA is needed to shift the immediate focus away from tests of Sept monthly highs and back to retests of the 200-DMA with a close below the 200-DMA not seen since early Sept.
RES 4: $0.8356 – Monthly high Sept 28
RES 3: $0.8307 – Monthly high Nov 7
RES 2: $0.8292 – 21 day upper Bollinger band
RES 1: $0.8250 – High Nov 23
LATEST PRICE: 0.8236
SUP 1: $0.8190 – 21 day moving average
SUP 2: $0.8089 – 21 day lower Bollinger band
SUP 3: $0.8070 – 200 day moving average
SUP 4: $0.8013 – 100 week moving average
AUD/JPY: Focus Now on Weekly High. The pair managed to take out small stops below the Jpy85.35 low as daily tech studies correct from very overbought levels. AUD/JPY now needs to close back above the Nov 26 high or else risk a deeper correction back towards the 21-DMA. A close below the 21-DMA is needed to end the current bullish move and return focus to the 200-DMA.
RES 4: Jpy87.57 – High Mar 27
RES 3: Jpy86.81 – Monthly high Apr 2
RES 2: Jpy86.59 – 21 day upper Bollinger band
RES 1: Jpy86.43 – High Nov 26
LATEST PRICE: 85.92
SUP 1: Jpy85.27 – Low Nov 28
SUP 2: Jpy84.17 – Low Nov 19
SUP 3: Jpy83.97 – 21 day moving average
SUP 4: Jpy82.99 – Low Nov 15
USD/KRW: 21-DMA Caps Again. USD/KRW has again retested the 21-DMA but has failed to close above. A close above the 21-DMA is needed to relieve immediate downside pressure, with a close above Nov 16 highs needed to confirm a break of the 21-DMA, an end to the current downtrend and shift focus higher to retests of the Krw1110-1125 region.
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: Krw1188.5 – 21 day moving average
LATEST PRICE: 1085.5
SUP 1: Krw1080.8 – 2012 low Nov 22
SUP 2: Krw1060.4 – Monthly low Sept 2
SUP 3: Krw1058.7 – Falling daily channel base
SUP 4: Krw1048.3 – 2011 low Aug 1
USD/SGD: Bounces From Initial Support. USD/SGD continues to trade sideways within the relatively narrow recent Sgd1.2203-1.2271 range. A close either side of these parameters is needed to inject fresh life into the pair, but while the Nov 7 low remains in play there is a slight bullish bias favoured with a close above the Nov 16 high needed to confirm a break higher.
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: 1.2224
SUP 1: Sgd1.2203 – Low Nov 7
SUP 2: Sgd1.2187 – Low Oct 31
SUP 3: Sgd1.2153 – 2012 low Oct 22 2012
SUP 4: Sgd1.2074 – Low Sept 8 2011
EasyForexNews Research Team