Pound Aussie – GBP/AUD had pullback to its up slopping trend line which may cause price to bounce higher from here. Price is also approaching the 2.0923 support level. Given that we are in a bullish trend. Traders may look for buying opportunities in this market especially if price pullback to the 2.0923 support level. There’s no immediate resistance level above which offer traders huge profit margin to the upside.
Aussie Swiss Franc – AUD/CHF once again pullback to its 0.7095 resistance level. This is the third pullback to its resistance level which might be weaker. Given that the overall trend is still bearish, traders may consider shorting this market if price rejects this 0.7095 resistance level. However if price breakout above the 0.7095 resistance level, it’s then likely going to rally higher in the coming days.
Aussie Loonie – AUD/CAD bounce off higher after price rejected the 0.9410–0.9369 support area. Price is still consolidating within the trading range and if price rejected the resistance levels, traders may consider shorting this target with a target at 0.9410–0.9369 support area. Traders are recommended to wait for confirmation and rejections before shorting for a safer entry as there is quite a few resistance levels above.
Posted on 2015-07-17 06:31:37