Aussie Loonie – AUD/CAD rejected its 0.9594 resistance level and fell significantly lower into its 0.9439–0.9411 support area as we expected in our 26th June 2015 Market Outlook. Traders who went short as we recommended may consider taking profits at the 0.9439–0.9411 support area as price is currently struggling to make decision at this very support area. If price breaks the support level, we are then likely going to see price decline further into its 0.9321 support level.
Euro Aussie – EUR/AUD once again pullback to its 1.4445–1.4351 support area. Although the short term momentum had turned slightly bearish but the over the longer term horizon, the trend is still bullish thus traders may consider buying into this market at the 1.4445–1.4351 support area. If price bounce off this support level, we are then likely going to see price rally higher into its 1.4803 resistance level in the coming days.
Silver – Silver fell into its 15.62–15.28 support area after price broke the 16.73 support level as we expected. Traders who went short as we recommended may consider taking profits at this 15.62–15.28 support area. Price also rejected the 15.62–15.28 support area on last Friday which may lead price higher into its 16.73 resistance level.
Posted on 2015-06-29 07:41:28