AUD/USD: Inside Day To End The Week. The AUD/USD managed an inside day to end the week with the Dec 6 low remaining initial support to start the new week. Overall we will continue to look for a close below the 21-DMA to see focus return to retests of the $1.0290-00 region with the 200-DMA noted at $1.0300. Topside the Sept 21 highs remain initial resistance with a close above needed to kick start topside momentum.
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: $1.0512 – 21 day upper Bollinger band
LATEST PRICE: 1.0489
SUP 1: $1.0442 – Low Dec 6
SUP 2: $1.0425 – 21 day moving average
SUP 3: $1.0395 – 100 day moving average
SUP 4: $1.0339 – Low Nov 21
NZD/USD: Focus Remains Higher For Now. The Kiwi consolidated at the upper end of Thursday’s range to end the week as it continued to oscillate around the sharply rising 21 day upper Bollinger band ($0.8324). Thursday’s low remains initial support with the 21-DMA ($0.8201) remaining key support. We will look for a close below the Dec 3 low as confirmation of a break of the 21-DMA and a shift in focus back to Nov lows.
RES 4: $0.8840 – Monthly high Aug 1 2011
RES 3: $0.8568 – High Aug 31 2011
RES 2: $0.8469 – 2012 high Feb 29
RES 1: $0.8356 – Monthly high Sept 28
LATEST PRICE: 0.8326
SUP 1: $0.8284 – Low Dec 6
SUP 2: $0.8237 – Low Dec 5
SUP 3: $0.8215 – Low Dec 4
SUP 4: $0.8172 – Low Dec 3
AUD/JPY: Fresh Highs Continue. The Mar 27 highs remain the initial target for the AUD/JPY with the pair finally having broken out of the Jpy85.27-86.45 range that has defined the past few weeks. Back below the Nov 28 low is needed to relieve the topside pressure while below the 21-DMA is needed to end the current upmove and shift overall focus back to the Jpy81.99 level.
RES 4: Jpy87.57 – High Mar 27
RES 3: Jpy87.50 – 21 day upper Bollinger band
RES 2: Jpy86.81 – Monthly high Apr 2
RES 1: Jpy86.57 – High Dec 6
LATEST PRICE: 86.53
SUP 1: Jpy85.27 – Low Nov 28
SUP 2: Jpy85.08 – 21 day moving average
SUP 3: Jpy84.17 – Low Nov 19
SUP 4: Jpy82.99 – Low Nov 15
USD/KRW: Narrow Ranges Continue. USD/KRW continues to remain capped by the 21-DMA with a a close above not seen since early Sept. A close above the 21-DMA is needed to relieve immediate downside pressure while a close above the Nov 16 high is needed to end the current down trend. While the 21-DMA caps potential remains for a move lower that tests the falling channel base noted around Krw1054 today.
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: Krw1185.8 – 21 day moving average
LATEST PRICE: 1081.6
SUP 1: Krw1080.7 – 2012 low Dec 5
SUP 2: Krw1060.4 – Monthly low Sept 2
SUP 3: Krw1054.4 – Falling daily channel base
SUP 4: Krw1048.3 – 2011 low Aug 1
USD/SGD: Consolidating Below The 21-DMA. The bounce from just ahead of the 2012 low has stalled just before the 21-DMA for the moment although a break higher remains favoured. Above the 21-DMA sees focus return to retests of the Nov 16 high, with the 21 day upper Bollinger band (Sgd1.2270) likely to slow any move higher with closes above rarely seen. Overall the pair is likely to trade Sgd1.2150-1.2300 to round out 2012.
RES 4: Sgd1.2327 – 100 day moving average
RES 3: Sgd1.2296 – High Nov 16
RES 2: Sgd1.2271 – Double daily top Nov 19 & 21
RES 1: Sgd1.2224 – 21 day moving average
LATEST PRICE: 1.2209
SUP 1: Sgd1.2153 – 2012 low Oct 22 2012
SUP 2: Sgd1.2092 – Falling daily channel base
SUP 3: Sgd1.2074 – Low Sept 8 2011
SUP 4: Sgd1.2021 – Low Aug 31 2011
EasyForexNews Research Team