AUD/USD: Jan 30 High Key Resistance. The AUD/USD continues to struggle topside with lower daily highs the past three days following last week’s fresh 4 weeks lows. Topside the Jan 30 high remains key with a close above needed to shift focus back to the Jan monthly high and double daily top. While Jan 30 high caps hopes remain for spikes below the lower Bollinger band and the overall focus remains on the $1.0290-15 region.
RES 4: $1.0598 – Monthly high Jan 10 & 11
RES 3: $1.0578 – High Jan 16 & 22
RES 2: $1.0501 – 21 day moving average
RES 1: $1.0477 – High Jan 30
LATEST PRICE: 1.0434
SUP 1: $1.0362 – Low Feb 1
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: 21-DMA Initial Support. The pair spike higher has lacked follow through and we will look for a close above the Feb 1 high to retain focus higher. The 21-DMA is noted as initial support and a close back below is needed to shift focus away from further spikes above the upper 21 day Bollinger band. Daily tech studies are at moderate levels and not yet considered an issue.
RES 4: $0.8840 – 2011 High Aug 1 2011
RES 3: $0.8568 – Monthly high Aug 31 2011
RES 2: $0.8487 – High Feb 1
RES 1: $0.8465 – 21 day upper Bollinger band
LATEST PRICE: 0.8436
SUP 1: $0.8394 – 21 day moving average
SUP 2: $0.8293 – Low Jan 30
SUP 3: $0.8281 – Low Jan 28
SUP 4: $0.8271 – 100 day moving average
AUD/JPY: Spikes Higher Expected To Continue. AUD/JPY is pausing a little ahead of the Aug 11 2008 highs but spikes above the sharply rising 21 day upper Bollinger band (Jpy96.73) are expected to continue until the pair closes back below the Jpy95.08 support level. Overall while the Jpy95.08 level supports the pair is expected to trade towards the Jpy100.00 level and continue to spike above the upper Bollinger band.
RES 4: Jpy104.5 – Monthly high July 2008
RES 3: Jpy100.9 – High Aug 4 2008
RES 2: Jpy99.93 – High Aug 7 2008
RES 1: Jpy98.23 – High Aug 11 2008
LATEST PRICE: 96.41
SUP 1: Jpy95.08 – Previous daily resistance now support
SUP 2: Jpy94.26 – 21 day moving average
SUP 3: Jpy94.13 – Low Jan 28
SUP 4: Jpy92.50 – Low Jan 16
USD/KRW: 200-DMA Remains Overall Focus. USD/KRW is little changed from Friday’s NY close with the spike below the 100-DMA (Krw1087.6) lacking follow through so far. We continue to look to the Jan 28 low as somewhat pivotal support with a close below needed to remove the current bullish focus. While Jan 28 lows support a test of the 200-DMA remains the immediate focus.
RES 4: Krw1123.9 – High Sept 20
RES 3: Krw1117.0 – 200 day moving average
RES 2: Krw1109.7 – Previous daily support now resistance
RES 1: Krw1098.6 – High Feb 1
LATEST PRICE: 1092.3
SUP 1: Krw1087.2 – Low Feb 1
SUP 2: Krw1079.7 – Low Jan 28
SUP 3: Krw1069.8 – Low Jan 25
SUP 4: Krw1061.3 – Low Jan 22
USDO/SGD: Sgd1.2310-35 Region Key Support. USD/SGD is looking a little heavy following the failure to hold above the 200-DMA. This sees an increased risk of a dip back towards the Sgd1.2309-34 support region. Back below this region is needed to shift focus from further spikes above the 200-DMA, lower to the Sgd1.2198-23 region. Daily tech studies are looking a little overbought and may start to weigh on further attempts higher so follow through will be key.
RES 4: Sgd1.2644 – High July 25
RES 3: Sgd1.2556 – Monthly high Aug 28
RES 2: Sgd1.2487 – 100 week moving average
RES 1: Sgd1.2420 – 200 day moving average
LATEST PRICE: 1.2386
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