AUD/USD: More $1.0386-1.0497 For Now. The pair continued its bounce from the 200-DMA but has paused ahead of the Mar monthly highs. The pair looks like remaining confined to a $1.0386-1.0497 range for the time being with a break of either side determining the next move. Above $1.0497 sees the pair target the $1.0578-98 region and the 2013 highs whereas a move back below the 200-DMA sees immediate focus turn to the Mar 12 lows and then the 2013 lows beneath.
RES 4: $1.0578 – Double Daily Top Jan 16 & 22
RES 3: $1.0534 – 21 day upper Bollinger band
RES 2: $1.0497 – Monthly high Mar 26
RES 1: $1.0479 – High Apr 2
Latest price: 1.0453
SUP 1: $1.0386 – 200 day moving average
SUP 2: $1.0346 – Low Mar 18
SUP 3: $1.0268 – Low Mar 12
SUP 4: $1.0205 – Low Mar 11
NZD/USD: 2013 High Overall Target. The cross traded at fresh 6 weeks highs overnight and spiked above the 21 day upper Bollinger band along the way. Initial support is now seen at yesterday’s lows but we continue to look for a close back below the Mar 25 low to relieve the current bullish focus with back below the $0.8292 level needed to confirm that a deeper correction is underway. For now spikes above the upper Bolli are expected to continue as 2013 highs are targeted.
RES 4: $0.8534 – 2013 high Feb 15
RES 3: $0.8489 – High Feb 19
RES 2: $0.8444 – High Apr 2
RES 1: $0.8433 – 21 day upper Bollinger band
Latest price: 0.8419
SUP 1: $0.8369 – Low Apr 2
SUP 2: $0.8337 – Low Mar 25
SUP 3: $0.8292 – Previous daily resistance now support
SUP 4: $0.8157 – Monthly low Dec 26
AUD/JPY: Rising Daily Trend Line Now Key Support. AUD/JPY dipped to fresh 4 week lows and a little closer to the rising daily trend line off Nov 9 lows before bouncing a little back towards the 21-DMA. A close back above the 21-DMA remains needed to remove the current focus from tests of the rising daily trend line. A close below sees the pair initially target a test of the Mar 1 lows and then the key Jpy92.50 support below. Above the 21-DMA sees the key Jpy100.00 level become the focus.
RES 4: Jpy104.5 – 2008 high Jul 21
RES 3: Jpy100.7 – High Aug 5 2008
RES 2: Jpy99.96 – 2013 high Mar 14
RES 1: Jpy98.37 – 21 day moving average
Latest price: 97.66
SUP 1: Jpy96.41 – Rising daily trend line
SUP 2: Jpy95.79 – Ichimoku cloud top
SUP 3: Jpy94.45 – Low Mar 1
SUP 4: Jpy92.50 – Low Jan 16
USD/KRW: Closes Above 50% Fibo Retracement Level. Fresh 6 month highs for USD/KRW overnight with the pair taking out the 50% Fibonacci retracement of the Krw1186.7-1054.5 move. Initial focus remains on the Krw1124.8 resistance level as we continue to target spikes above the now rising 21 day upper Bollinger band on the way to a test of the rising daily channel top. Initial support is now seen at yesterday’s lows with a close back below needed to relieve the current bullish pressure.
RES 4: Krw1136.2 – 61.8% retracement of 1186.7-1054.5 move
RES 3: Krw1132.7 – Rising daily channel top
RES 2: Krw1128.5 – 21 day upper Bollinger band
RES 1: Krw1124.8 – Previous daily support now resistance
Latest price: 1122.7
SUP 1: Krw1110.9 – Low Apr 2
SUP 2: Krw1104.0 – 200 day moving average
SUP 3: Krw1101.7 – Low Mar 14
SUP 4: Krw1098.2 – Rising daily channel base
USD/SGD: Bounces From 200-DMA. USD/SGD continued its move lower, dipping below the 21 day lower Bollinger band and Ichimoku cloud top (Sgd1.2371) overnight before bouncing from the 200-DMA. Initial resistance is now noted at the Apr 1 highs and we look for a close above to relieve the current bearish focus with above the 21-DMA needed to see focus turn higher once more. The Sgd1.2309-34 support region remains targeted and is key for the pair.
RES 4: Sgd1.2556 – High Aug 28
RES 3: Sgd1.2529 – 2013 High Mar 20
RES 2: Sgd1.2460 – 21 day moving average
RES 1: Sgd1.2425 – High Apr 1
Latest price: 1.2392
SUP 1: Sgd1.2383 – 21 day lower Bollinger band
SUP 2: Sgd1.2363 – 200 day moving average
SUP 3: Sgd1.2334 – Low Jan 30
SUP 4: Sgd1.2309 – Previous daily resistance now support
EasyForexNews Research Team