AUD/USD: Above Mar 6 High Needed To Shift Focus Higher. The pair continues to trade in a choppy fashion with the Mar 6 highs remaining initial resistance and a close above needed to relieve the current downside focus and see the $1.0374-98 region come back into the picture. While the Mar 6 highs continue to cap we will look for fresh 2013 lows and further spikes below the 21 day lower Bollinger band. Daily tech studies continue to work their way back to more neutral territory.
RES 4: $1.0477 – High Jan 30
RES 3: $1.0398 – High Feb 6
RES 2: $1.0374 – High Feb 15
RES 1: $1.0298 – High Mar 6
Latest price: 1.0274
SUP 1: $1.0205 – Low Mar 11
SUP 2: $1.0169 – 21 day lower Bollinger band
SUP 3: $1.0117 – 2013 low Mar 4
SUP 4: $1.0101 – Monthly low Jul 12
NZD/USD: Bounces From Ahead Of The 200-DMA. The cross has again bounced from ahead of the 200-DMA but has paused ahead of initial resistance with a close above the Mar 8 high needed to relieve the current bearish focus and see the $0.8351 resistance level retested with the 21-DMA noted just below at $0.8340 today. Daily tech studies are slowly working their way out of oversold territory and this could be providing support for the pair on dips back to the 200-DMA.
RES 4: $0.8511 – 21 day upper Bollinger band
RES 3: $0.8416 – High Feb 25
RES 2: $0.8351 – High Feb 26
RES 1: $0.8292 – High Mar 8
Latest price: 0.8281
SUP 1: $0.8180 – 200 day moving average
SUP 2: $0.8157 – Low Dec 26
SUP 3: $0.8119 – 100 week moving average
SUP 4: $0.8056 – Low Nov 16
AUD/JPY: Jpy100.00 Level Getting Closer Every Day. The pair continues its march higher towards the psychological Jpy100.00 level continues with fresh 2013 highs to start the new week. The upper 21 day Bollinger band is now rising sharply with spikes above expected to continue. We will look for a close below yesterday’s low to relieve the immediate bullish pressure that is expected to see the psychological Jpy100.00 level retested.
RES 4: Jpy105.0 – Psychological Resistance
RES 3: Jpy104.5 – 2008 high Jul 21
RES 2: Jpy100.7 – High Aug 5 2008
RES 1: Jpy100.0 – Psychological Resistance
Latest price: 98.99
SUP 1: Jpy98.04 – Low Mar 11
SUP 2: Jpy96.11 – 21 day moving average
SUP 3: Jpy94.45 – Low Mar 1
SUP 4: Jpy92.50 – Low Jan 16
USD/KRW: Fresh 4 Month Highs. USD/KRW has broken and closed above the previous double daily top as it edges closer to the 200-DMA. We will now look for a close below yesterday’s low to relieve the current bullish focus that is expected to see spikes above the upper 21 day Bollinger band (Krw1097.2) continue. Back below the Feb 20 lows remains needed to see focus return to 2013 lows. It is worth noting the pair has not traded above the 200-DMA since late July.
RES 4: Krw1117.4 – High Oct 11
RES 3: Krw1108.1 – 200 day moving average
RES 2: Krw1107.4 – High Oct 23
RES 1: Krw1101.4 – Previous daily support now resistance
Latest price: 1098.8
SUP 1: Krw1094.3 – Low Mar 8
SUP 2: Krw1081.3 – 100 day moving average
SUP 3: Krw1077.0 – Low Feb 20
SUP 4: Krw1069.8 – Low Jan 25
USD/SGD: Spike Higher Lacked Follow Through. Despite the spike to fresh 2013 and 6 month highs USD/SGD is little changed from Friday’s closing levels with the close just above session lows a little concerning. In saying that the Mar 4 lows remain key this week with a close back below needed to relieve the immediate bullish pressure and see focus return to the Jan 30 lows. While the Sgd1.2424 level continues to support we will target the Sgd1.2555-65 region.
RES 4: Sgd1.2748 – High July 6
RES 3: Sgd1.2644 – High July 25
RES 2: Sgd1.2572 – Rising daily channel top
RES 1: Sgd1.2509 – 2013 High Mar 11
Latest price: 1.2483
SUP 1: Sgd1.2424 – Low Mar 4
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