AUD/USD: Immediate Topside Pressure Relieved. The immediate topside pressure has been relieved a little with the break back below the Dec 13 low which increases the risk of a pullback to the $1.0442-46 region with the 21-DMA noted at $1.0446. A close below the Dec 6 low would confirm a break of the 21-DMA and a shift in overall focus back to the $1.0290-00 region with the 200-DMA noted around $1.0299 today
RES 4: $1.0856 – 2012 high Feb 29
RES 3: $1.0693 – High Mar 7
RES 2: $1.0624 – Monthly high Sept 14
RES 1: $1.0583 – High Dec 12
LATEST PRICE: 1.0517
SUP 1: $1.0463 – Low Dec 11
SUP 2: $1.0446 – 21 day moving average
SUP 3: $1.0442 – Low Dec 6
SUP 4: $1.0395 – 100 day moving average
NZD/USD: Focus Remains Higher For Now. The pair managed minor fresh 8 month highs yesterday before setting fresh lows for the day which is a less than ideal technical setup but below the Dec 12 low remains needed to relieve immediate topside pressure. Overall we will continue to look for a close below the 21-DMA to shift focus away from fresh 2012 highs and back to the 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: 0.8430
SUP 1: $0.8386 – Low Dec 12
SUP 2: $0.8284 – Low Dec 6
SUP 3: $0.8249 – 21 day moving average
SUP 4: $0.8215 – Low Dec 4
AUD/JPY: Fresh 2012 Highs Remain Favoured Overall. AUD/JPY focus remains on the 2012 highs for now with a close below the Dec 12 low needed to relieve the current topside pressure. The 21-DMA comes in around the Dec 10 low today and we continue to look for a close below the 21-DMA to shift focus lower. Until a close below the 21-DMA is seen fresh 2012 highs remain favoured with the Sept 2008 monthly highs then becoming the target.
RES 4: Jpy94.93 – High Aug 28 2008
RES 3: Jpy90.74 – Monthly high Sept 28 2008
RES 2: Jpy89.63 – High Apr 28 2011
RES 1: Jpy88.64 – 2012 high Mar 19
LATEST PRICE: 87.82
SUP 1: Jpy87.70 – Hourly support Dec 13
SUP 2: Jpy86.90 – Low Dec 12
SUP 3: Jpy85.91 – 21 day moving average
SUP 4: Jpy85.27 – Low Nov 28
USD/KRW: Consolidating Above 2012 Low. USD/KRW is consolidating at the lower end of Wednesday’s range and just above the fresh 2012 lows. A close above the 21-DMA remains needed to relieve the immediate downside pressure with a close above the Nov 16 highs needed to shift focus higher and end the current downtrend. While the focus remains lower we will continue to target the falling daily channel base.
RES 4: Krw1109.9 – Previous daily support now resistance
RES 3: Krw1094.4 – High Nov 16
RES 2: Krw1182.9 – 21 day moving average
RES 1: Krw1180.7 – Previous daily support now resistance
LATEST PRICE: 1074.1
SUP 1: Krw1071.5 – 2012 low Dec 12
SUP 2: Krw1060.4 – Monthly low Sept 2
SUP 3: Krw1051.5 – Falling daily channel base
SUP 4: Krw1048.3 – 2011 low Aug 1
USD/SGD: Nov 28 High Somewhat Pivotal. The cross continues to do little with the pair expected to remain well and truly confined to a Sgd1.2150-1.2300 range to round out 2012. The Nov 28 high remains somewhat pivotal with a close above needed to see the pair have any hope of retesting the Nov 16 highs. While the pair remains capped by the Nov 28 highs the overall focus remains on retests of the 2012 lows.
RES 4: Sgd1.2313 – 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: 1.2217
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