AUD/USD: Potential For $1.0290-1.0310 In The Short Term. Fresh two week lows for the AUD/USD again overnight combined with the failure at the Nov 30 highs and correcting overbought slow stochastics increase the risk of a move lower that initially sees the $1.0290-10 region retested. The 21 day lower Bollinger is noted at $1.0336, just below the Nov 21 low and with closes below lower Bolli bands a rarity we may see the pair pause in this region.
RES 4: $1.0624 – Monthly high Sept 14
RES 3: $1.0518 – High Sept 21
RES 2: $1.0488 – 21 day upper Bollinger band
RES 1: $1.0447 – High Nov 30
LATEST PRICE: 1.0422
SUP 1: $1.0390 – 100 day moving average
SUP 2: $1.0339 – Low Nov 21
SUP 3: $1.0307 – 200 day moving average
SUP 4: $1.0290 – Low Nov 16
NZD/USD: Lower Daily Highs And Lows Continue. Although the Kiwi is little changed from opening levels yesterday the lower daily lows and highs continue with a move lower that retests the lower Bollinger band now favoured until the pair can manage a close above the Nov 29 highs. It should be noted that a falling daily trend line off the Sept monthly highs caps just above $0.8267 increasing its significance.
RES 4: $0.8307 – Monthly high Nov 7
RES 3: $0.8277 – 21 day upper Bollinger band
RES 2: $0.8267 – High Nov 29
RES 1: $0.8225 – High Dec 3
LATEST PRICE: 0.8208
SUP 1: $0.8172 – Low Dec 3
SUP 2: $0.8093 – 21 day lower Bollinger band
SUP 3: $0.8067 – 200 day moving average
SUP 4: $0.8019 – 100 week moving average
AUD/JPY: Increased Risk Of A Break Lower. The Jpy85.27-86.43 range remains key for now with a close above Jpy86.43 needed to kick start topside momentum. At present correcting overbought daily slow stochastics, RSI and momentum indicators are expected to keep the immediate focus on a break below Jpy85.27, triggering stops and seeing an initial retest of the 21-DMA. A close below then targets Jpy81.99.
RES 4: Jpy87.57 – High Mar 27
RES 3: Jpy87.04 – 21 day upper Bollinger band
RES 2: Jpy86.81 – Monthly high Apr 2
RES 1: Jpy86.43 – High Nov 26
LATEST PRICE: 85.71
SUP 1: Jpy85.27 – Low Nov 28
SUP 2: Jpy84.52 – 21 day moving average
SUP 3: Jpy84.17 – Low Nov 19
SUP 4: Jpy82.99 – Low Nov 15
USD/KRW: Hovering Above 2012 Lows. USD/KRW continues to consolidate just above 2012 lows with a close above the 21-DMA needed to relive the immediate downside pressure and above the Nov 16 highs needed to shift focus higher. The falling daily channel base in play since early June comes in around Krw1057.2 today. At present daily tech studies are at relatively neutral levels and are giving away few clues.
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: Krw1187.2 – 21 day moving average
LATEST PRICE: 1083.5
SUP 1: Krw1080.8 – 2012 low Nov 22
SUP 2: Krw1060.4 – Monthly low Sept 2
SUP 3: Krw1057.2 – Falling daily channel base
SUP 4: Krw1048.3 – 2011 low Aug 1
USD/SGD: Fresh 7 Week Lows. Fresh 7 week lows for USD/SGD overnight see the pair on track to retest the 2012 lows until a close back above the 21-DMA is seen. The lower 21 day Bollinger band (Sgd1.2195) is heading lower with spikes below expected . At present the falling daily trend channel off the Nov monthly highs has a base that comes in around Sgd1.2118 which will act as something of a moving target.
RES 4: Sgd1.2339 – High Sept 26
RES 3: Sgd1.2296 – High Nov 16
RES 2: Sgd1.2271 – Double daily top Nov 19 & 21
RES 1: Sgd1.2235 – 21 day moving average
LATEST PRICE: 1.2186
SUP 1: Sgd1.2153 – 2012 low Oct 22 2012
SUP 2: Sgd1.2118 – Falling daily channel base
SUP 3: Sgd1.2074 – Low Sept 8 2011
SUP 4: Sgd1.2021 – Low Aug 31 2011
EasyForexNews Research Team