AUD/USD: Spikes Below Lower Bollinger To Continue. The AUD/USD continues to remain heavy and remains on track for a retest of the $1.0290-00 region. Daily tech studies are in oversold territory but still have a little room to move before becoming an issue. Topside the pair needs to close above the Dec 24 highs to relieve the immediate bearish pressure while a close above the 21-DMA remains needed for a shift higher in overall focus.
RES 4: $1.0509 – Previous daily support now resistance
RES 3: $1.0469 – 21 day moving average
RES 2: $1.0455 – Hourly Resistance Dec 21
RES 1: $1.0416 – High Dec 24
LATEST PRICE: 1.0374
SUP 1: $1.0339 – Low Nov 21
SUP 2: $1.0296 – 200 day moving average
SUP 3: $1.0290 – Low Nov 16
SUP 4: $1.0238 – Low Oct 23
AUD/JPY: Bouncing Back Towards 2012 High. Having held above the 21-DMA the AUD/JPY has bounced back towards 2012 highs and the 21 day upper Bollinger band as previously mentioned. Above the 2012 high sees focus turn to the Jpy89.60-00 region with the 2011 high noted at Jpy90.02. The upper Bolli is heading sharply higher once more with spikes above expected to recommence.
RES 4: Jpy89.63 – High April 28 2011
RES 3: Jpy89.58 – 21 day upper Bollinger band
RES 2: Jpy89.04 – 2012 high Dec 14
RES 1: Jpy88.88 – High Dec 19
LATEST PRICE: 88.84
SUP 1: Jpy87.52 – Low Dec 25
SUP 2: Jpy87.28 – 21 day moving average
SUP 3: Jpy86.07 – Low Dec 10
SUP 4: Jpy85.27 – Low Nov 28
NZD/USD: Fresh 5 Week Lows. The pair managed to marginally close below the 100-DMA after trading at fresh 5 week lows overnight. The $0.8060-80 region remains the immediate focus with a close above the Dec 24 high needed to relieve the current bearish pressure. It is also worth noting the 100-WMA coming in at $0.8039 with a close below not seen since early June.
RES 4: $0.8420 – High Dec 19
RES 3: $0.8346 – High Dec 21
RES 2: $0.8312- 21 day moving average
RES 1: $0.8248- High Dec 24
LATEST PRICE: 0.8193
SUP 1: $0.8157 – Low Dec 26
SUP 2: $0.8133 – 21 day lower Bollinger band
SUP 3: $0.8114 – Low Nov 21
SUP 4: $0.8076 – 200 day moving average
USD/KRW: Above Dec Monthly High Needed To End Move Lower. USD/KRW continues to consolidate just above 2012 lows while the 21-DMA continues to cap. A close above the 21-DMA is needed to relieve the immediate downside pressure with a close above the Dec monthly high now needed to end the current downtrend. While the downtrend continues we will target fresh 2012 lows and the falling daily channel base coming in around Krw1045.5 today.
RES 4: Krw1094.4 – High Nov 16
RES 3: Krw1086.9 – 21 day upper Bollinger band
RES 2: Krw1085.2 – Monthly high Dec 4
RES 1: Krw1077.7 – 21 day moving average
LATEST PRICE: 1073.6
SUP 1: Krw1071.2 – 2012 low Dec 18
SUP 2: Krw1060.4 – Monthly low Sept 2
SUP 3: Krw1048.3 – 2011 low Aug 1
SUP 4: Krw1045.5 – Falling daily channel base
USD/SGD: Shift Higher In Focus. The move above the Sgd1.2243 level has seen focus shift to the Sgd1.2291-96 region with the 100-DMA noted at Sgd1.2291. The 21-DMA is now initial support with a close below needed to see focus return to retests of the 2012 low. The move higher overnight has seen the 21 day upper Bollinger band (Sgd1.2236) head higher once more with spikes above now expected to continue.
RES 4: Sgd1.2339 – High Sept 26
RES 3: Sgd1.2296 – High Nov 16
RES 2: Sgd1.2291 – 100 day moving average
RES 1: Sgd1.2271 – Double daily top Nov 19 & 21
LATEST PRICE: 1.2239
SUP 1: Sgd1.2203 – 21 day moving average
SUP 2: Sgd1.2169 – Low Dec 18
SUP 3: Sgd1.2153 – 2012 low Oct 22 2012
SUP 4: Sgd1.2074 – Low Sept 8 2011
EasyForexNews Research Team