AUD/USD The move higher stalled ahead of the 21 day moving average and the falling daily channel top off Oct monthly highs. The aussie looks set for further sideways trading within a $0.8820-0.8961 range with a break lower seeing immediate focus shift to retests of the $0.8756-87 region where the long term falling weekly channel base and Aug 25 2010 monthly lows are found. A close above the $0.8994 level is needed to shift immediate focus to the $0.9167 level.
R 4: $0.9167 – Monthly high Dec 10
R 3: $0.9075 – High Dec 12
R 2: $0.8994 – Previous daily support now resistance
R 1: $0.8961 – 21 day moving average
Latest price: $0.8899
S 1: $0.8869 – Hourly support Dec 30
S 2: $0.8820 – 2013 Low Dec 18
S 3: $0.8787 – 21 day lower Bollinger band
S 4: $0.8771 – Monthly Low Aug 25 2010
NZD/USD The move higher on Tuesday stalled ahead of the falling daily channel top before dipping to close below the 21-DMA. The 100-DMA comes in at $0.8204 today with initial support noted just below. Correcting oversold daily slow stochastics are suggesting further tests of the recent highs with a close above $0.8287 needed to confirm a clean break of the 21-DMA and daily channel top. A close below $0.8113 is needed to reconfirm bearish focus.
R 4: $0.8310 – 21 day upper Bollinger band
R 3: $0.8287 – High Dec 16
R 2: $0.8236 – High Dec 31
R 1: $0.8227 – 21 day moving average
Latest price: $0.8204
S 1: $0.8195 – Hourly support Dec 30
S 2: $0.8160 – 200 day moving average
S 3: $0.8113 – Low Dec 30
S 4: $0.8084 – Low Sept 12
AUD/NZD Following the repeated failures ahead of the NZ$1.0915 level and 21-DMA the pair has retained its bearish focus with daily tech studies looking to make bearish crosses once again. Immediate focus is on a retest of Tuesday’s $1.0800 low with a break lower then likely to see the 2013 low retested. A close above the NZ$1.0950 level is needed to relieve the immediate bearish focus and see the NZ$1.1070 level targeted.
R 4: NZ$1.1070 – High Dec 6
R 3: NZ$1.0950 – Previous daily support now resistance
R 2: NZ$1.0915 – High Dec 25
R 1: NZ$1.0890 – 21 day moving average
Latest price: NZ$1.0823
S 1: NZ$1.0800 – Low Dec 31
S 2: NZ$1.0728 – 2013 Low Dec 19, 21 day lower Bolli
S 3: NZ$1.0492 – 2005 Low Dec 7 2005
S 4: NZ$1.0426 – 2005 Low Dec 5 2005
EUR/AUD: The A$1.5286 support remains key with a close below needed to confirm a break of the 21-DMA and see immediate focus shift to a deeper correction targeting the A$1.5005 level. Daily tech studies have worked off their previously overbought condition and remain at relatively neutral levels. It looks as though the pair is set for sideways trading within a A$1.5286-1.5596 region with a break of either side determining the next decent move.
R 4: A$1.5840 – High Feb 9 2010
R 3: A$1.5627 – 21 day upper Bollinger band
R 2: A$1.5597 – 2013 high Dec 27
R 1: A$1.5495 – High Dec 31
Latest price: A$1.5476
S 1: A$1.5382 – Low Dec 31
S 2: A$1.5313 – 21 day moving average
S 3: A$1.5286 – Low Dec 23
S 4: A$1.5191 – Low Dec 12
USD/SGD: The break back below the Sgd1.2649 support combined with correcting overbought daily tech studies is suggestive of a deeper correction that potentially targets the 200-DMA where the recent move higher received a leg up. A close above the Sgd1.2649 level is needed to ease the current bearish pressure while a close above the Sgd1.2712 level is needed to kick start bullish momentum and see focus return to the 2013 high
R 4: Sgd1.2758 – High Sept 9
R 3: Sgd1.2737 – 200 week moving average
R 2: Sgd1.2712 – High Sept 13
R 1: Sgd1.2649 – Previous daily support now resistance
Latest price: Sgd1.2620
S 1: Sgd1.2609 – Low Dec 19
S 2: Sgd1.2599 – 21 day moving average
S 3: Sgd1.2681 – Previous daily resistance now support
S 4: Sgd1.2560 – 100 day moving average
After having traded at fresh 2013 and multi-year lows on Tuesday USD/KRW bounced back towards the 21-DMA. A close above the 21-DMA is needed to relieve the immediate bearish pressure that is now targeting the Krw973.7 Apr 2008 monthly low. The 21 day lower Bollinger band comes in around Krw1048.3 and with closes below a rarity downside follow through could be limited for now. Overall above Krw1065.7 is needed to shift focus higher
R 4: Krw1075.6 – Monthly high Nov 12
R 3: Krw1074.7 – 100 day moving average
R 2: Krw1070.2 – High Nov 14
R 1: Krw1065.7 – High Nov 27
Latest price: Krw1055.8
S 1: Krw1049.8 – Low Jan 1
S 2: Krw1048.3 – 21 day lower Bollinger band
S 3: Krw1047.3 – 2013 low Dec 31
S 4: Krw973.7 – Monthly Low Apr 7 2008
