Loonie Dollar – USD/CAD is currently finding some support below and starts to pullback higher. If price pullback to the 1.3200 resistance level, traders may hunt for potential short setup to ride on the bearish trend. Ideally we would prefer to see price to rejects the resistance level before shorting for a safer entry.
Aussie Kiwi – AUD/NZD is consolidating at the moment. We could potentially see price pullback to the 1.1083 support level if price couldn’t continue to rally higher. If price pullback to the 1.1083 support level, traders may consider buying into this market as price is likely going to rally higher with its bullish trend. Traders who are long may consider have the first target set at the 1.1425–1.1375 resistance area.
Swedish Krona – USD/SEK could potentially pullback higher before continue to decline lower. Traders who went short as we recommended in our 15th March 2016 Market Outlook may consider holding on the long position while traders who missed the breakout shorting opportunity may consider look for shorting opportunity on pullbacks to ride on this bearish momentum.
Posted on 2016-03-21 06:30:02