AUD/USD: Pausing Ahead Of 21-DMA. The pair remains little changed from this week’s open as it consolidated at the lower end of Friday’s range to start the week. A close below the 21-DMA, which is the initial support, is needed to reconfirm bearish focus. Topside the pair needs to close above the Jan 16 highs to relieve the current downside pressure while above the double daily top at $1.0598 is needed to see the key Sept monthly high back in focus.
RES 4: $1.0690 – High Mar 6
RES 3: $1.0624 – Monthly high Sept
RES 2: $1.0598 – High Jan 10 & 11
RES 1: $1.0578 – High Jan 16
LATEST PRICE: 1.0517
SUP 1: $1.0478 – 21 day moving average
SUP 2: $1.0409 – 100 day moving average
SUP 3: $1.0377 – Low Jan 2
SUP 4: $1.0346 – Monthly low Dec 26
NZD/USD: Dips Below Last Week’s Low. The cross is pausing ahead of the initial support at the 21-DMA after dipping below last week’s low by a pip to start the new week. Daily tech studies continue to correct from overbought levels and are expected to weigh on the pair with a retest of the Dec monthly lows favoured overall. Back above 2012 highs is needed to see focus turn bullish once more.
RES 4: $0.8568 – High Aug 31
RES 3: $0.8486 – 21 day upper Bollinger band
RES 2: $0.8474 – 2012 High Dec 14
RES 1: $0.8459 – High Jan 11
LATEST PRICE: 0.8363
SUP 1: $0.8336 – Low Jan 21
SUP 2: $0.8326 – 21 day moving average
SUP 3: $0.8248 – Previous Resistance Now Support
SUP 4: $0.8245 – 100 day moving average
AUD/JPY: Continues To Pause Ahead Of Jpy95.00-100.00 Region. AUD/JPY continues to pause ahead of the Jpy95.00 level. With very overbought daily RSI, Slow Stochastic and Momentum indicators looking to unwind there is an increased risk of a correction. We will now look for a move back below the Jan 4 low to confirm and end to the current uptrend and see focus return to the 200-DMA.
RES 4: Jpy100.9 – High Aug 4 2008
RES 3: Jpy96.42 – High Aug 18 2008
RES 2: Jpy96.39- 21 day upper Bollinger band
RES 1: Jpy95.02 – High Jan 18
LATEST PRICE: 94.39
SUP 1: Jpy93.97 – Low Jan 21
SUP 2: Jpy92.50 – Low Jan 16
SUP 3: Jpy91.84 – 21 day moving average
SUP 4: Jpy91.13 – Low Jan 4
USD/KRW: Spikes Above 21-DMA. USD/KRW has seen is largest bounce for some time with the pair popping back above the 21-DMA for the first time since late Nov. We wll continue to look for a move back above the Jan 14 high to relieve the immediate bearish pressure while above the Krw1080.8 resistance level is needed to end the current move lower. Daily tech studies are correcting from oversold levels and may finally be having an impact.
RES 4: Krw1085.6 – High Nov 29
RES 3: Krw1080.8 – Previous support now resistance
RES 2: Krw1075.0 – 21 day upper Bollinger band
RES 1: Krw1066.5 – High Jan 14
LATEST PRICE: 1063.3
SUP 1: Krw1054.5 – 2013 low Jan 11
SUP 2: Krw1051.2 – 21 day lower Bollinger band
SUP 3: Krw1048.3 – 2011 low Aug 1 2011
SUP 4: Krw1033.6 – Falling daily channel base
USD/SGD: Spikes Above Upper Bollinger Expected. Despite the sharp spike higher to end the week USD/SGD failed to test the key Jan 7 highs with a close above needed to see focus turn to retests of the Sgd1.2400-25 region. Back below the Jan 11 low is needed to end the bullish hopes for the pair and see focus return to retests of the 2012 low. The 21 day upper Bollinger band continues to rise and comes in around Sgd1.2300 today.
RES 4: Sgd1.2425 – 200 day moving average
RES 3: Sgd1.2399 – Previous daily support now resistance
RES 2: Sgd1.2330 – High Jan 7
RES 1: Sgd1.2308 – High Jan 21
LATEST PRICE: 1.2281
SUP 1: Sgd1.2223 – Low Jan 11
SUP 2: Sgd1.2198 – Low Jan 2
SUP 3: Sgd1.2192 – 21 day lower Bollinger band
SUP 4: Sgd1.2169 – Low Dec 18
EasyForexNews Research Team