Aussie Loonie – AUD/CAD surge higher after price pullback into the 0.9578 support level as we expected in our 27th November 2015 Market Outlook. Traders who went long at the 0.9578 support level may consider taking partial profits at the 0.9668 resistance level while leaving the rest to run further. Since price had breakout above the 0.9668 resistance level, we could potentially see price continue to rally higher in the coming days. Traders who went long as we recommended in our 20th November 2015 Market Outlook and 13th November 2015 Market Outlook may also consider holding onto the long positions as the bullish trend is unlikely to bend anytime soon.
Kiwi Dollar – NZD/USD surge higher into its 0.6641–0.6619 resistance area after price rejected its 0.6447–0.6401 support area as we expected in our 19th November 2015 Market Outlook. Traders who went long as we recommended may consider scale out the position at the 0.6641–0.6619 resistance area to lock in the profits. If price close above the 0.6641–0.6619 resistance area today, we are then likely going to see price continue its bullish move into the next resistance level at 0.6879.
Aussie Dollar – AUD/USD is currently trading just below its 0.7296–0.7280 resistance area. Traders may consider buying into this market if price breakout above the 0.7296–0.7280 resistance area as if this resistance area is broken, price is then likely going to move higher into its next resistance area at 0.7380–0.7362 as the short term trend is bullish at the moment.
Posted on 2015-12-01 06:30:46