AUD/USD: Sideways Trading Continues For Now. The AUD/USD is consolidating below the 100-DMA ($1.0396) with a close above the Dec 24 high needed to relieve the immediate downside pressure. The pair continues to remain heavy with a test of the $1.0290-00 region currently favoured. The 21 day lower Bollinger is heading lower with spikes below expected to continue. Overall above the 21-DMA is needed to end the current move lower.
RES 4: $1.0509 – Previous daily support now resistance
RES 3: $1.0465 – 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
NZD/USD: Remains Heavy. The pair remains on track to retest the $0.8060-80 region as it continues to remain heavy following the break below the 21-DMA last week. The $0.8060-80 region remains key support for the pair, representing the Nov monthly lows and the 200-DMA. A close below would then see focus ratchet lower to the Sept and July monthly lows.
RES 4: $0.8420 – High Dec 19
RES 3: $0.8346 – High Dec 21
RES 2: $0.8310- 21 day moving average
RES 1: $0.8248- High Dec 24
LATEST PRICE: 0.8206
SUP 1: $0.8157 – Low Dec 26
SUP 2: $0.8129 – 21 day lower Bollinger band
SUP 3: $0.8114 – Low Nov 21
SUP 4: $0.8077 – 200 day moving average
AUD/JPY: Fresh 2012 High. AUD/JPY has managed to trade at the highest level since Apr 28 2011 overnight with the Jpy89.63 level now firmly in focus. Back above this level sees focus turn to levels last seen back in 2008 and the Jpy90.80-90 region initially. The 21-DMA remains key support with a close below needed to end the current bullish trend. Expect further spikes above the upper Bollinger band.
RES 4: Jpy90.87 – High Sept 8 2008
RES 3: Jpy89.82 – 21 day upper Bollinger band
RES 2: Jpy89.63 – High April 28 2011
RES 1: Jpy89.39 – 2012 high Dec 27
LATEST PRICE: 89.32
SUP 1: Jpy87.52 – Low Dec 25
SUP 2: Jpy87.44 – 21 day moving average
SUP 3: Jpy86.07 – Low Dec 10
SUP 4: Jpy85.27 – Low Nov 28
USD/KRW: Hovering Just Above 2012 Low. USD/KRW marginally held above the 2012 low on yesterdays gentle dip with the 21-DMA remaining initial resistance. 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: Krw1085.7 – 21 day upper Bollinger band
RES 2: Krw1085.2 – Monthly high Dec 4
RES 1: Krw1077.1 – 21 day moving average
LATEST PRICE: 1072.8
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: Krw1044.8 – Falling daily channel base
USD/SGD: Consolidates Above 21-DMA. The move above the Sgd1.2243 level has seen focus shift to the Sgd1.2291-96 region with the 100-DMA now noted at Sgd1.2286.The 21 day upper Bollinger band comes in around the Sgd1.2236 level today with spikes above expected to continue. A close below the 21-DMA remains needed to see focus shift back to retests of 2012 lows.
RES 4: Sgd1.2339 – High Sept 26
RES 3: Sgd1.2296 – High Nov 16
RES 2: Sgd1.2288 – 100 day moving average
RES 1: Sgd1.2271 – Double daily top Nov 19 & 21
LATEST PRICE: 1.2228
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