AUD/USD: Spikes Below Lower Bollinger Band Favoured. The AUD/USD has failed to carry on with Tuesday’s correction and instead sees the pair again focusing on the Jan 2 low and then the $1.2090-10 region beneath. The 21 day lower Bollinger band comes in around $1.0402 today with the AUD/USD again having bounced from the lower Bollinger band again yesterday. Spikes below the lower Bollinger are favoured.
RES 4: $1.0615 – 21 day upper Bollinger band
RES 3: $1.0598 – High Jan 10 & 11
RES 2: $1.0578 – High Jan 16 & 22
RES 1: $1.0509 – 21 day moving average
LATEST PRICE: 1.0415
SUP 1: $1.0377 – Low Jan 2
SUP 2: $1.0346 – Monthly low Dec 26
SUP 3: $1.0312 – 200 day moving average
SUP 4: $1.0290 – Low Nov 16
NZD/USD: Focus Turns Lower Once More. The pair again found support at the 21 day lower Bollinger band ($0.8296 today) after failing to carry on with the move back above the 21-DMA. The 100-DMA lurks just below and is the initial focus with little time spent below the 100-DMA during the past 6 months. A close below the100-DMA sees the focus ratchet lower to the 200-DMA.
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: 0.8354
SUP 1: $0.8293 – Low Jan 30
SUP 2: $0.8281 – Low Jan 28
SUP 3: $0.8267 – 100 day moving average
SUP 4: $0.8215 – Low Jan 4
AUD/JPY: Spikes Higher, Lacks Follow Through. Attempts to close in the Jpy95.00-100.00 region continue to lack follow through with the pair closing back below Jpy95.00. We will continue to look for a move back below the Jan 28 low to relieve the immediate bullish pressure that currently favours another leg higher while Jpy94.10-20 supports. Overall back below Jpy92.50 is needed to signal a deeper correction.
RES 4: Jpy100.9 – High Aug 4 2008
RES 3: Jpy96.42 – High Aug 18 2008
RES 2: Jpy96.01 – 21 day upper Bollinger band
RES 1: Jpy95.43 – High Jan 30
LATEST PRICE: 94.87
SUP 1: Jpy94.13 – Low Jan 28
SUP 2: Jpy93.63 – 21 day moving average
SUP 3: Jpy92.50 – Low Jan 16
SUP 4: Jpy91.13 – Low Jan 4
USD/KRW: Jan 28 Low Initial Resistance. USD/KRW continues to consolidate above the initial support after the fresh weekly high set on Monday. Back below the Jan 28 low is needed to relieve the current bullish aspirations with the 200-DMA the overall topside focus. It is worth noting the pair is also hesitating ahead of the Ichimoku cloud top (Jpy1092.6) which increases the significance of current resistance.
RES 4: Krw1123.9 – High Sept 20
RES 3: Krw1117.6 – 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 Remains Key Support. 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: 1.2360
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: Sgd1.2192 – 21 day lower Bollinger band
EasyForexNews Research Team