AUD/USD: Falls Short Of Initial Resistance. While the AUD/USD remains supported ahead of the $1.0429-42 region potential remains for a tests of the Sept monthly highs with a close above the $1.0518 level needed to kick start topside momentum. The 21 day upper Bollinger comes in around the Sept 21 highs today increasing the significance of this level. Downside, below the 21-DMA is needed to shift focus lower.
RES 4: $1.0856 – 2012 high Feb 29
RES 3: $1.0624 – Monthly high Sept 14
RES 2: $1.0557 – High Sept 17
RES 1: $1.0518 – High Sept 21
LATEST PRICE: 1.0482
SUP 1: $1.0442 – Low Dec 6
SUP 2: $1.0429 – 21 day moving average
SUP 3: $1.0397 – 100 day moving average
SUP 4: $1.0339 – Low Nov 21
NZD/USD: Spikes Above Upper Bollinger To Continue. The pair continues to pause ahead of the Sept monthly highs on bounces with back below the Dec 6 low needed to relieve the immediate topside pressure and below the 21-DMA needed to shift focus back towards the Nov monthly low. The 21 day upper Bollinger band ($0.8345) is heading sharply higher with spikes above expected to continue.
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: 0.8342
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: Jpy85.20-30 Region Remains Key Support. The Mar 27 highs remain the initial target for the AUD/JPY with initial support now seen at yesterday’s Jpy86.07 lows. Below Jpy86.07 is needed to relieve the immediate topside pressure with below the 21-DMA needed to shift focus lower. The 21-DMA comes in around the Nov 28 low today which increases the significance of this support level.
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: 86.41
SUP 1: Jpy86.07 – Low Dec 10
SUP 2: Jpy85.27 – Low Nov 28
SUP 3: Jpy84.17 – Low Nov 19
SUP 4: Jpy82.99 – Low Nov 15
USD/KRW: Fresh 2012 Lows. Fresh 2012 lows and the lowest level in 14 months overnight for USD/KRW yesterday after remaining capped at the 21-DMA once more. The 21-DMA has capped since early Sept with a close above needed to relieve immediate downside pressure while back above the Nov 16 high is needed to end the current move lower. Overall focus remains on a potential test of the falling channel base.
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: Krw1185.2 – 21 day moving average
LATEST PRICE: 1079.2
SUP 1: Krw1077.6 – 2012 low Dec 10
SUP 2: Krw1060.4 – Monthly low Sept 2
SUP 3: Krw1053.7 – Falling daily channel base
SUP 4: Krw1048.3 – 2011 low Aug 1
USD/SGD: Spikes Above The 21-DMA. USD/SGD has popped back above the 21-DMA but pauses ahead of the Nov 28 highs. We will look for a close above the Nov 28 high to shift focus away from potential fresh 2012 lows and back to retests of the Nov monthly highs with the 100-DMA noted just above. The pair has largely remained confined to a Sgd1.2150-1.2300 range with this range expected to see out the remainder of 2012.
RES 4: Sgd1.2324 – 100 day moving average
RES 3: Sgd1.2296 – High Nov 16
RES 2: Sgd1.2271 – Double daily top Nov 19 & 21
RES 1: Sgd1.2243 – High Nov 28
LATEST PRICE: 1.2219
SUP 1: Sgd1.2172 – Low Dec 4
SUP 2: Sgd1.2153 – 2012 low Oct 22 2012
SUP 3: Sgd1.2074 – Low Sept 8 2011
SUP 4: Sgd1.2021 – Low Aug 31 2011
EasyForexNews Research Team