AUD/USD: Tests Upper Bollinger Band. Fresh nearly 3 month highs for the AUD/USD see the 21 day upper Bollinger band retested with spikes above expected until a close back below the 21-DMA is seen. While the 21-DMA continues to support focus remains on retests of the Sept monthly highs with the upper Bollinger expected to moderate the move higher. Below the 21-DMA is needed to shift focus back to Nov monthly lows.
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: $1.0533 – 21 day upper Bollinger band
LATEST PRICE: 1.0525
SUP 1: $1.0463 – Low Dec 11
SUP 2: $1.0442 – Low Dec 6
SUP 3: $1.0434 – 21 day moving average
SUP 4: $1.0400 – 100 day moving average
NZD/USD: Focus Remains On 2012 Highs. Spikes above the 21 day upper Bollinger band ($0.8374) continue for the Kiwi as the focus firmly remains on retests of the 2012 high set back in late Feb. Below the Dec 6 low is needed to relieve the immediate topside pressure while a close below the Dec 3 lows is needed to confirm a break of the 21-DMA ($0.8220) and see focus turn to retests of Nov monthly lows.
RES 4: $0.8840 – Monthly high Aug 1 2011
RES 3: $0.8677 – High Aug 3 2011
RES 2: $0.8568 – High Aug 31 2011
RES 1: $0.8469 – 2012 high Feb 29
LATEST PRICE: 0.8386
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: Jpy86.05-10 Region Initial Support. The Mar 27 highs remain the initial target for the AUD/JPY with initial support remaining at the Dec 10 Jpy86.07 low. Below this level is needed to relieve the immediate topside pressure with below the Nov 28 low now needed to confirm a break of the 21-DMA and an end to the current move higher. The relatively flat 21 day upper Bollinger (Jpy87.54) may slow the move higher a little.
RES 4: Jpy89.63 – High Apr 28 2011
RES 3: Jpy88.64 – 2012 high Mar 19
RES 2: Jpy88.13 – High Mar 21
RES 1: Jpy87.57 – High Mar 27
LATEST PRICE: 86.78
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: Targeting Falling Daily Channel Base. The cross continues to work its way lower towards the falling daily channel base that has been in play since June, setting fresh 2012 lows along the way. The 21-DMA remains the initial resistance with a close above needed to relieve the immediate downside pressure, while above the Nov 16 high is needed to end the current down trend. Expect spikes below the lower Bollinger to continue.
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: Krw1184.4 – 21 day moving average
LATEST PRICE: 1076.7
SUP 1: Krw1074.8 – 2012 low Dec 11
SUP 2: Krw1060.4 – Monthly low Sept 2
SUP 3: Krw1052.9 – Falling daily channel base
SUP 4: Krw1048.3 – 2011 low Aug 1
USD/SGD: Nov 28 High Seen As Pivotal. The pair continues to trade in narrow ranges with above the Nov 28 high needed to confirm a break back above the 21-DMA (Sgd1.2221) and shift focus to retests of the Nov 16 high. While Nov 28 highs cap the risk of a retest of 2012 lows remains. The lower Bollinger band comes in around the Dec 4 lows today which adds significance to this region with closes below the lower Bollinger a rarity.
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: 1.2208
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