AUD/USD: $1.0477 Initial Topside Focus. The Jan 30 high now remains the next hurdle for the AUD/USD as a potential move back towards the 2013 high currently remains favoured. Initial support remains at the $1.0414 level that previously capped, with a close below needed to relieve the current bullish focus. Overall the pair needs to close back below the Mar 18 low to see focus return to the $1.0205 Mar 11 lows. The upper Bolli band continues to head higher with spikes above favoured.
RES 4: $1.0624 – High Sept 14
RES 3: $1.0598 – 2013 high Jan 10 & 11
RES 2 $1.0578 – Double Daily Top Jan 16 & 22
RES 1: $1.0477 – High Jan 30
Latest price: 1.0446
SUP 1: $1.0414 – Previous daily resistance now support
SUP 2: $1.0346 – Low Mar 18
SUP 3: $1.0268 – Low Mar 12
SUP 4: $1.0205 – Low Mar 11
NZD/USD: Layers Of Resistance Noted $0.8393-0.8416. The pair made headway following the break above the $0.8292 level that had previously capped with this level remaining as initial support. Until a close back below initial support is seen the immediate focus remains on a test of the Feb 25 high with the 61.8% Fibonacci retracement level seen coming in just ahead at $0.8393 and around the same level as the Ichimoku cloud top, adding significance to the resistance.
RES 4: $0.8534 – 2013 high Feb 15
RES 3: $0.8416 – High Feb 25
RES 2: $0.8393 – 61.8% retracement of $0.8534-0.8164 move
RES 1: $0.8365 – 21 day upper Bollinger band
Latest price: 0.8341
SUP 1: $0.8292 – Previous daily resistance now support
SUP 2: $0.8157 – Low Dec 26
SUP 3: $0.8125 – 100 week moving average
SUP 4: $0.8056 – Monthly low Nov 16
AUD/JPY: Failures Ahead Of Jpy100.00 A Concern For Bulls. Continued failures ahead of the key resistance level combined with correcting overbought daily RSI, Slow Stochastic and Momentum indicators are less than ideal for a continuation of the bullish scenario for the pair, but we continue to look for a close below the Mar 18 lows to relieve the immediate bullish focus. A close back below initial support sees the overall focus return to retests of the Jpy92.50 support.
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: 98.66
SUP 1: Jpy97.60 – Low Mar 18
SUP 2: Jpy97.29 – 21 day moving average
SUP 3: Jpy94.45 – Low Mar 1
SUP 4: Jpy92.50 – Low Jan 16
USD/KRW: 50%Fibonacci Level Caps Again. The pair again fell just short of the 50% Fibonacci level to end the week with initial focus remaining on a break higher and a test of the rising daily channel top while the 200-DMA continues to support. We will look for a close below the Mar 14 lows as confirmation of a break back below the 200-DMA which then sees the rising daily channel base become the initial focal point and then 100-DMA (Krw1082.6) beneath that.
RES 4: Krw1136.2 – 61.8% retracement of 1186.7-1054.5 move
RES 3: Krw1127.0 – 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: 1117.8
SUP 1: Krw1105.5 – 200 day moving average
SUP 2: Krw1101.7 – Low Mar 14
SUP 3: Krw1094.1 – Low Mar 12
SUP 4: Krw1092.5 – Rising daily channel base
USD/SGD: Ends Week Off Highs. The cross continues to slowly retreat from the 2013 highs set last week as daily Slow Stochastic and RSI indicators correct from overbought levels. The Sgd1.2461 level remains initial support with the 21-DMA noted just below around Sgd1.2456 to start the week. Overall we will continue to look for a close back below the Mar 4 low to see focus shift lower to the Sgd1.2309-34 region. While initial support remains we target the Sgd1.2620-43 region.
RES 4: Sgd1.2643 – High July 25
RES 3: Sgd1.2620 – Rising daily channel top
RES 2: Sgd1.2556 – High Aug 28
RES 1: Sgd1.2529 – 2013 High Mar 20
Latest price: 1.2483
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