AUD/USD: Focus Firmly On Lower Levels. The pair failed ahead of the layers of resistance in the $1.0374-98 region and has corrected sharply lower, falling just short of a retest of the Feb 12 low. Focus now firmly remains on the Feb 12 low with a break below expected to see the key $1.0150 Oct monthly low support retested. Topside the $1.0374-98 region remains key with a close above needed to shift focus higher once more.
RES 4: $1.0578 – High Jan 16 & 22
RES 3: $1.0477 – High Jan 30
RES 2: $1.0398 – High Feb 6
RES 1: $1.0374 – High Feb 15
Latest price: 1.0257
SUP 1: $1.0228 – Low Feb 12
SUP 2: $1.0220 – 21 day lower Bollinger band
SUP 3: $1.0150 – Monthly low Oct 8
SUP 4: $1.0101 – Monthly low Jul 12
NZD/USD: Layers Of Support Noted Below. With the NZD having taken out the $0.8395-10 support region immediate focus now turns to layers of support in the $0.8265-07 region with the 21 week moving average noted at $0.8286. A close below this region would see focus ratchet lower to the 200-DMA noted at $0.8133 today. Topside the pair needs to close back above the 21-DMA to relieve the current bearish focus.
RES 4: $0.8568 – Monthly high Aug 31 2011
RES 3: $0.8534 – High Feb 15
RES 2: $0.8506 – 21 day upper Bollinger band
RES 1: $0.8407 – 21 day moving average LATEST
Latest price: 0.8358
SUP 1: $0.8307 – 21 day lower Bollinger band
SUP 2: $0.8289 – 100 day moving average
SUP 3: $0.8281 – Weekly low Jan 28
SUP 4: $0.8265 – Ichimoku cloud base
AUD/JPY: Hovering Above 21-DMA For Now. The cross made marginal fresh 2 week highs before dipping back to the 21-DMA which relieved the immediate topside pressure for now. A close below
the key Jpy95.08 support is needed to end bullish aspirations for the time being and see the Jan 16 low come into focus with the potential for a deeper correction as overbought daily tech studies unwind.
RES 4: Jpy99.93 – High Aug 7 2008
RES 3: Jpy98.23 – High Aug 11 2008
RES 2: Jpy97.40 – High Feb 5 & 6
RES 1: Jpy97.05 – High Feb 20
Latest price: 95.97
SUP 1: Jpy95.91 – 21 day moving average
SUP 2: Jpy95.08 – Previous daily resistance now support
SUP 3: Jpy94.13 – Low Jan 28
SUP 4: Jpy92.50 – Low Jan 16
USD/KRW: Feb 13 High Initial Resistance. USD/KRW dipped marginally below the Feb 15 low before bouncing to close on its highs for the day. The Feb 13 high remains initial resistance with a close above needed to remove the focus from further sideways trading within a Krw1077-90 range. A close below yesterday’s low is needed to see focus turn to 2012 lows while above Krw1089.3 sees the double daily top around Krw1098.6 targeted.
RES 4: Krw1114.1 – 200 day moving average
RES 3: Krw1109.7 – Previous daily support now resistance
RES 2: Krw1098.6 – High Feb 1
RES 1: Krw1089.3 – High Feb 13
Latest price: 1082.7
SUP 1: Krw1077.0 – Low Feb 20
SUP 2: Krw1071.5 – 21 day lower Bollinger band
SUP 3: Krw1069.8 – Low Jan 25
SUP 4: Krw1061.3 – Low Jan 22
USD/SGD: Ends NY Session Looking Bid. An inside day for USD/SGD yesterday but with the pair closing just below the high for the day in NY, pressure remains topside and another test of the 200-DMA remains favoured. A close above the 200-DMA would add support to the bullish case, while a close above the Feb 12 high is needed to shift focus to tests of the 100-WMA with a close above not seen since July 2012
RES 4: Sgd1.2481 – 100 week moving average
RES 3: Sgd1.2454 – High Feb 12
RES 2: Sgd1.2438 – 21 day upper Bollinger band
RES 1: Sgd1.2413 – 200 day moving average
Latest price: 1.2394
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