AUD/USD: 61.8% Fibonacci Level Remains Key Resistance. The pair continues to trade sideways within initial support and resistance parameters. A close above the 61.8% Fibonacci retracement level is needed to kick start topside momentum and see immediate focus turn to tests of the $1.0457-77 resistance region, while a close below the Mar 18 $1.0346 support is needed to end bullish hopes for the time being and see immediate focus return to the Mar 12 $1.0268 support with the 21-DMA coming in around $1.0285.
RES 4: $1.0578 – Double Daily Top Jan 16 & 22
RES 3: $1.0477 – High Jan 30
RES 2: $1.0457 – High Feb 5
RES 1: $1.0414 – 61.8% retracement of $1.0598-1.0117 move
Latest price: 1.0372
SUP 1: $1.0346 – Low Mar 18
SUP 2: $1.0268 – Low Mar 12
SUP 3: $1.0205 – Low Mar 11
SUP 4: $1.0149 – 21 day lower Bollinger band
NZD/USD: Continues To Struggle On Rallies. The cross continues to fail ahead of initial resistance and is also finding support ahead of the 200-DMA. We continue to look for a close below the Dec 26 lows to confirm another break of the 200-DMA and see immediate focus turn to retests of the Nov monthly lows and then the Sept monthly lows beneath. Topside a close back above the Mar 8 highs is needed to see focus turn to retests of the Feb 25 resistance level.
RES 4: $0.8416 – High Feb 25
RES 3: $0.8351 – High Feb 26
RES 2: $0.8322 – Ichimoku Cloud Base
RES 1: $0.8292 – High Mar 8
Latest price: 0.8226
SUP 1: $0.8157 – Low Dec 26
SUP 2: $0.8124 – 100 week moving average
SUP 3: $0.8056 – Monthly low Nov 16
SUP 4: $0.7917 – Monthly low Sept 5
AUD/JPY: Focus Back On Key Psychological Resistance. The AUD/JPY has recovered from the dip to fresh two week lows earlier in the week with the immediate focus remaining on retests of the key psychological resistance level and stops noted above. A close above would see focus turn to trading within a Jpy100-105 range, while back below initial support sees focus ratchet lower to the Jpy92.50 Jan 16 lows with the pair having previously bounced significantly from this level.
RES 4: Jpy104.5 – 2008 high Jul 21
RES 3: Jpy100.7 – High Aug 5 2008
RES 2: Jpy100.0 – Psychological Resistance
RES 1: Jpy99.96 – 2013 high Mar 14
Latest price: 99.65
SUP 1: Jpy97.60 – Low Mar 18
SUP 2: Jpy96.98 – 21 day moving average
SUP 3: Jpy94.45 – Low Mar 1
SUP 4: Jpy92.50 – Low Jan 16
USD/KRW: Focus Remains On Krw1120-25 region. USD/KRW managed fresh 2013 and 7 month highs overnight before pausing at the 50% Fibonacci retracement level. Layers of resistance are noted in the Krw1120-25 region with a close above the Krw1125 level needed to see focus ratchet higher to the Sept monthly highs. Immediate focus remains on a test of the rising daily channel top with a close back below the 200-DMA needed to relieve immediate bullish pressure
RES 4: Krw1136.2 – 61.8% retracement of 1186.7-1054.5 move
RES 3: Krw1125.4 – Rising daily channel top
RES 2: Krw1124.8 – Previous daily support now resistance
RES 1: Krw1120.6 – 50% retracement of 1186.7-1054.5 move
Latest price: 1115.8
SUP 1: Krw1106.2 – 200 day moving average
SUP 2: Krw1101.7 – Low Mar 14
SUP 3: Krw1094.1 – Low Mar 12
SUP 4: Krw1090.1 – Rising daily channel base
USD/SGD: Fresh Highs Lack Follow Through So Far. Minor fresh 2013 and 7 month highs by a couple of pips have so far lacked follow through and we now look for a close back below the Sgd1.2461 support to relieve the immediate topside pressure, while back below theSgd1.2424 level is needed to see focus turn to the Sgd1.2309-24 support region. The upper 21 day Bollinger band continues to head higher with spikes above expected to resume.
RES 4: Sgd1.2609 – Rising daily channel top
RES 3: Sgd1.2556 – High Aug 28
RES 2: Sgd1.2541 – 21 day upper Bollinger band
RES 1: Sgd1.2529 – 2013 High Mar 20
Latest price: 1.2509
SUP 1: Sgd1.2461 – Low Mar 12 & 13
SUP 2: Sgd1.2424 – Low Mar 4
SUP 3: Sgd1.2334 – Low Jan 30
SUP 4: Sgd1.2309 – Previous daily resistance now support
EasyForexNews Research Team