AUD/USD: Inside Day To Start The Week. An inside day to start the week for the AUD/USD as the pair consolidates within a $1.0509-1.0583 range. A close below the Dec 13 low is needed to relieve the immediate topside pressure while a close below the 21-DMA remains needed to shift focus lower. The rising daily trendline off the Nov monthly lows comes in just below the Dec 13 low today and confirms the significance of this support level.
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: 1.0541
SUP 1: $1.0509 – Low Dec 13
SUP 2: $1.0466 – 21 day moving average
SUP 3: $1.0442 – Low Dec 6
SUP 4: $1.0405 – 100 day moving average
NZD/USD: Hesitating Ahead Of Recent 2012 High. The pair hesitated ahead of the recent fresh 2012 high to start the week but immediate focus will remain on the Aug 31 2011 highs until the pair can manage a close below the 21-DMA. Spikes above the upper 21 day Bollinger band ($0.8479) are expected to continue until a close below the Dec 12 lows relieves immediate topside pressure. Note closes above the upper Bolli are a rarity.
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: $0.8474 – 2012 high Dec 14
LATEST PRICE: 0.8439
SUP 1: $0.8386 – Low Dec 12
SUP 2: $0.8284 – Low Dec 6
SUP 3: $0.8281 – 21 day moving average
SUP 4: $0.8215 – Low Dec 4
AUD/JPY: 2011 Highs Immediate Focus. AUD/JPY remained capped just short of the fresh 2012 high set Friday with fresh highs expected until the pair can manage a close below the 21-DMA. Initial support remains at the Jpy87.70 level from Dec 13 with a close below needed to relieve the immediate topside pressure and end spikes above the upper Bollinger band (Jpy88.51). For now the 2011 highs remain the immediate focus.
RES 4: Jpy90.74 – Monthly high Sept 28 2008
RES 3: Jpy90.02 – 2011 high Apr 11 2011
RES 2: Jpy89.63 – High Apr 28 2011
RES 1: Jpy89.04 – 2012 high Dec 14
LATEST PRICE: 88.26
SUP 1: Jpy87.70 – Hourly support Dec 13
SUP 2: Jpy86.90 – Low Dec 12
SUP 3: Jpy86.36 – 21 day moving average
SUP 4: Jpy85.27 – Low Nov 28
USD/KRW: Consolidating Above Recent 2012 Low. USD/KRW continues to consolidate above the fresh 2012 lows set last week with a close above the 21-DMA now needed to relieve the immediate downside pressure. Overall we continue to look for a close above the Nov 16 high to confirm an end to the current downtrend. For now we will continue to target the falling daily channel base coming in around Krw1050.1 today.
RES 4: Krw1109.9 – Previous daily support now resistance
RES 3: Krw1094.4 – High Nov 16
RES 2: Krw1181.5 – 21 day moving average
RES 1: Krw1180.7 – Previous daily support now resistance
LATEST PRICE: 1072.8
SUP 1: Krw1071.5 – 2012 low Dec 12
SUP 2: Krw1060.4 – Monthly low Sept 2
SUP 3: Krw1050.1 – Falling daily channel base
SUP 4: Krw1048.3 – 2011 low Aug 1
USD/SGD: Narrow Sideways Trading Continues. USD/SGD now looks like ending 2012 remaining confined to the recent Sgd1.2172-1.2244 range as 21 day Bollinger bands (Sgd1.2175-1.2253) slowly narrow. Above the Nov 28 highs remains needed to remove the focus from possible fresh 2012 lows and shift focus higher to the Sgd1.2296-1.2308 region. A close at fresh 2012 lows would see focus shift lower to the Sept 8 2011 low.
RES 4: Sgd1.2308 – 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: 1.2198
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