AUD/USD: $1.0150 Remains Key Support. A relatively bearish close for the AUD/USD overnight with the spike towards the 21-DMA sharply reversed and immediate focus remaining on the key $1.0150 support. The $1.0150 Oct monthly low remains key support for the pair with it having supported on previous failures above the $1.0600 level with a close below expected to target sub parity levels for the first time since Jul 2012.
RES 4: $1.0477 – High Jan 30
RES 3: $1.0398 – High Feb 6
RES 2: $1.0374 – High Feb 15
RES 1: $1.0314 – 21 day moving average
Latest price: 1.0215
SUP 1: $1.0181 – 21 day lower Bollinger band
SUP 2: $1.0150 – Monthly low Oct 8
SUP 3: $1.0101 – Monthly low Jul 12
SUP 4: $0.9972 – Low June 26
NZD/USD: Spikes Below Bollinger Band To Continue. The pair ended the NY session on its lows and hovering just above the initial support and 2013 low. The pair needs to close back above the 100- DMA to relieve the current bearish pressure with a move to fresh 2013 lows expected to see the 200-DMA retested. The 21 day lower Bollinger band comes in around $0.8241 today with spikes below expected to continue until a close above the 100-DMA is seen.
RES 4: $0.8532 – 21 day upper Bollinger band
RES 3: $0.8416 – High Feb 25
RES 2: $0.8351 – High Feb 26
RES 1: $0.8296 – 100 day moving average
Latest price: 0.8248
SUP 1: $0.8215 – 2013 Low Jan 4
SUP 2: $0.8157 – Low Dec 26
SUP 3: $0.8155 – 200 day moving average
SUP 4: $0.8056 – Monthly low Nov 16
AUD/JPY: Bounces Back Towards Initial Resistance. The AUD/JPY has bounced back towards initial resistance at Jpy95.30 after pausing ahead of the Jpy92.50 support with the Ichimoku cloud top noted at Jpy92.50 also. Daily tech studies are approaching oversold levels and this may further support the pair on dips back towards Jan 16 lows. Topside the pair needs to close above the Jpy95.30 resistance level to see focus return to 2013 highs.
RES 4: Jpy98.23 – High Aug 11 2008
RES 3: Jpy97.63 – 2013 high Feb 22
RES 2: Jpy97.26 – High Feb 25
RES 1: Jpy95.30 – High Feb 26
Latest price: 94.58
SUP 1: Jpy92.50 – Low Jan 16
SUP 2: Jpy91.21 – Low Jan 8
SUP 3: Jpy90.67 – 38.2% Retracement of Jpy79.42-97.63 move
SUP 4: Jpy88.82 – Low Dec 31
USD/KRW: Narrow Sideways Trading Continues. The cross continues to remain confined to a narrow Krw1081.7-1092.3 range inside the broader Krw1077-1099 range with this range expected to remain for the time being A close below the Krw1077.0 level is needed to see focus return to retests of 2013 lows. Topside the double daily top around the Krw1098.6 level remains key with a close above needed to shift focus to the Krw1110-18 region.
RES 4: Krw1109.7 – Previous daily support now resistance
RES 3: Krw1107.4 – High Oct 23
RES 2: Krw1098.6 – High Feb 1
RES 1: Krw1096.1 – 21 day upper Bollinger band
Latest price: 1084.1
SUP 1: Krw1079.5 – 21 day lower Bollinger band
SUP 2: Krw1077.0 – Low Feb 20
SUP 3: Krw1069.8 – Low Jan 25
SUP 4: Krw1061.3 – Low Jan 22
USD/SGD: 200-DMA Initial Resistance. USD/SGD ended the NY session on a relatively bid note following the dip back towards the key Sgd1.2334 support and the 21 day lower Bollinger band. The 200-DMA has capped on previous attempts higher this week and we look for a close above to hint at retests of the more important Sgd1.2454 Feb monthly high. Back below Sgd1.2334 would see focus return to the Sgd1.2198-23 region.
RES 4: Sgd1.2479 – 100 week moving average
RES 3: Sgd1.2454 – High Feb 12
RES 2: Sgd1.2420 – 21 day upper Bollinger band
RES 1: Sgd1.2402 -200 day moving average
Latest price: 1.2388
SUP 1: Sgd1.2350 – 21 day lower Bollinger band
SUP 2: Sgd1.2334 – Low Jan 30
SUP 3: Sgd1.2309 – Previous daily resistance now support
SUP 4: Sgd1.2223 – Low Jan 11
EasyForexNews Research Team