Aussie Loonie – AUD/CAD rejected its 0.9594 resistance level and fell lower. Since we are in a trading range on the shorter term horizon, traders may consider selling at this 0.9594 resistance level with the first target at the 0.9439–0.9411 support area. Price is likely going to continue to decline lower in the coming days while traders who have shorted this market may trail the stop closely to lock in the profits.
Swiss Franc Yen – CHF/JPY rallied higher after price rejected the 131.30 support level as we expected in our 10th June 2015 Market Outlook. Price once again pullback to the 131.30 support level where traders may consider buying into this market if price rejects this support level. Price is likely going to rally higher if price rejects this 131.30 support level. On the other hand, if price breaks the 131.30 support level, we are then likely going to see price move lower into its next support level at 128.19.
Euro Kiwi – Yesterday EUR/NZD rejected its 1.6154 support level. Given that we are in a strong bullish trend, traders may consider buying into this market at this 1.6154 support level. Price is likely going to continue its bullish trend and may break through the 1.6567 resistance level. If price breaks the 1.6154 support level, traders may still look for buying opportunity when price move lower into its 1.5816 support level as it’s a good level to hunt for buying opportunities especially when we have a strong bullish trend on our side.
Posted on 2015-06-26 06:30:55