AUD/USD: Focus Turns To 21-DMA. COMMENTARY: The AUD/USD has closed above the $1.0467 resistance level, albeit marginally, with the bearish pressure relieved as a result. Back below the hourly support noted at $1.0440 is needed to see focus return to the Jan 2 low. The 21-DMA is seen as the first topside hurdle with a close above then seeing focus return to the key $1.0578-18 region where layers of resistance remain.
RES 4: $1.0618 – 21 day upper Bollinger band
RES 3: $1.0598 – High Jan 10 & 11
RES 2: $1.0578 – High Jan 16 & 22
RES 1: $1.0508 – 21 day moving average
LATEST PRICE: 1.0469
SUP 1: $1.0440 – Hourly support Jan 29
SUP 2: $1.0377 – Low Jan 2
SUP 3: $1.0346 – Monthly low Dec 26
SUP 4: $1.0311 – 200 day moving average
NZD/USD: $0.8459-74 Region Remains Key Topside. The close back above the Jan 28 high has relieved the downside pressure and returned focus back to the key $0.8459-74 resistance region with the 21 day upper Bollinger band noted at $0.8461. Daily techs have corrected back to neutral levels and have room to move before overbought becomes an issue. Back below The Jan 29 low is now needed to refocus lower.
RES 4: $0.8840 – 2011 High Aug 1 2011
RES 3: $0.8568 – Monthly high Aug 31 2011
RES 2: $0.8474 – 2012 High Dec 14
RES 1: $0.8459 – High Jan 11
LATEST PRICE: 0.8383
SUP 1: $0.8328 – Low Jan 29
SUP 2: $0.8281 – Low Jan 28
SUP 3: $0.8265 – 100 day moving average
SUP 4: $0.8215 – Low Jan 4
AUD/JPY: Pressure Remains Topside. The AUD/JPY continues to fail to record the close above the Jan 25 high that is needed to signal the next leg higher for the pair but the pressure remains topside. A close back below the Jan 28 low remains needed to relieve the current bullish pressure that is currently expected to see the pair move into the Jpy95.00-100.00 region while back below the Jan 16 low remains needed to hint at a decent correction.
RES 4: Jpy100.9 – High Aug 4 2008
RES 3: Jpy96.42 – High Aug 18 2008
RES 2: Jpy96.15 – 21 day upper Bollinger band
RES 1: Jpy95.08 – High Jan 25
LATEST PRICE: 95.04
SUP 1: Jpy94.13 – Low Jan 28
SUP 2: Jpy93.41 – 21 day moving average
SUP 3: Jpy92.50 – Low Jan 16
SUP 4: Jpy91.13 – Low Jan 4
USD/KRW: An Inside Day. An inside day for USD/KRW yesterday with a somewhat bearish close at the day’s lows hints at a dip back to the Jan 25 support level as the sharply rising 21 day upper Bollinger band (Krw1083.0) plays catch up. The Jan 25 low remains key with a close below needed to see focus turn to fresh 2013 lows. Daily tech studies are rolling over from overbought levels and may impede any further attempts higher and weigh on the pair for now.
RES 4: Krw1123.9 – High Sept 20
RES 3: Krw1117.9 – 200 day moving average
RES 2: Krw1109.7 – Previous daily support now resistance
RES 1: Krw1094.5 – High Jan 28
LATEST PRICE: 1082.0
SUP 1: Krw1079.7 – Low Jan 28
SUP 2: Krw1069.8 – Low Jan 25
SUP 3: Krw1061.3 – Low Jan 22
SUP 4: Krw1054.5 – 2013 low Jan 11
USD/SGD: Sgd1.2309 Support Key Today. The close back below the Jan 28 low has relieved the immediate topside pressure with the Sgd1.2309 support the level to watch today. Back below Sgd1.2309 sees focus return to retests of solid support in the Sgd1.2220-25 region. Topside the Sgd1.2404-20 region remains key with the 200-DMA noted at Sgd1.2420 and a close above not seen since late July 2012.
RES 4: Sgd1.2644 – High July 25
RES 3: Sgd1.2556 – Monthly high Aug 28
RES 2: Sgd1.2420 – 200 day moving average
RES 1: Sgd1.2404 – High Jan 28
LATEST PRICE: 1.2337
SUP 1: Sgd1.2309 – Previous daily resistance now support
SUP 2: Sgd1.2223 – Low Jan 11
SUP 3: Sgd1.2198 – Monthly low Jan 2
SUP 4: Sgd1.2188 – 21 day lower Bollinger band
EasyForexNews Research Team