AUD/USD: Jan 30 High Level To Watch Topside. The Jan 2 low confirmed its significance as support with the AUD/USD bouncing from this level yesterday after dipping below both the 21 day lower Bollinger band ($1.0393) and the Ichimoku cloud base. We will now look for a close above the Jan 30 high to remove the current focus from continued spikes below the lower Bollinger and an eventual test of the $1.0290-15 region with the 200-DMA noted at $1.0312
RES 4: $1.0598 – High Jan 10 & 11
RES 3: $1.0578 – High Jan 16 & 22
RES 2: $1.0505 – 21 day moving average
RES 1: $1.0477 – High Jan 30
LATEST PRICE: 1.0428
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: Broad Range Trading To Continue. The pair has spent the past month supported on dips ahead of the 100-DMA and capped by the key $0.8460-75 resistance region with the upper 21 day Bollinger band noted at $0.8456. For now further sideways trading within an $0.8280-0.8475 range remains favoured as Bollinger bands flatten out and daily tech studies remain at largely neutral levels.
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: 0.8389
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: Next Leg Higher Unfolding. AUD/JPY could be embarking on its next leg higher with trading in a Jpy95.00-100.00 band expected while the Jpy95.08 previous resistance level supports the pair. Back below the Jan 28 low remains needed to relieve current bullish pressure while back below the Jan 16 low is needed to hint at a deeper correction but for now higher levels remain favoured.
RES 4: Jpy104.5 – Monthly high July 2008
RES 3: Jpy100.9 – High Aug 4 2008
RES 2: Jpy96.42 – High Aug 18 2008
RES 1: Jpy96.15 – 21 day upper Bollinger band
LATEST PRICE: 95.47
SUP 1: Jpy95.08 – Previous daily resistance now support
SUP 2: Jpy94.13 – Low Jan 28
SUP 3: Jpy93.81 – 21 day moving average
SUP 4: Jpy92.50 – Low Jan 16
USD/KRW: More Krw1080-1095 Expected For Now. USD/KRW appears content to continue trading sideways within the recent Krw1079.7-1094.5 range with the Ichimoku cloud top noted around the Krw1092.6 level today and a close above the cloud top not seen since July 2012. While the Jan 28 low supports a break higher remains favoured with a close back below the Jan 28 low needed to shift focus back to retests of the 21-DMA (Krw1067.3).
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: 1089.0
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: 200-DMA Remains Key Topside. The pair has bounced from the Sgd1.2334 level, spiking above the upper Bollinger band but falling short of a test of the recent highs with the 200-DMA noted just above. While the Sgd1.2309-34 region supports we will look for further spikes above the upper Bollinger band (Sgd1.2379), but daily tech studies approaching overbought levels could weigh on rallies in the coming days.
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: 1.2374
SUP 1: Sgd1.2334 – Low Jan 30
SUP 2: Sgd1.2309 – Previous daily resistance now support
SUP 3: Sgd1.2223 – Low Jan 11
SUP 4: Sgd1.2198 – Monthly low Jan 2
EasyForexNews Research Team