Aussie Kiwi – AUD/NZD pullback into its 1.1083 support level as we expected in our 21st March 2016 Market Outlook. If price rejects the 1.1083 support level, traders may then consider buying into this market as the overall trend is still bullish at the moment. The next resistance area is not found until 1.1425–1.1375 which offer traders massive profit margin to trade the long side.
Pound Aussie – GBP/AUD rejected its 1.9097–1.8982 resistance area yesterday which could potentially push price lower in the coming days. Given that the overall trend is still bearish, traders may consider shorting this market to ride on the bearish trend. The next support level is not found until 1.8600 which offer traders huge profit margin to trade the short side.
Aussie Yen – AUD/JPY is forming ascending triangle chart pattern at the 86.31 resistance level which if price breakout above the resistance level, price is then likely going to continue to rally higher into its next resistance level at 90.70. Traders may consider buying into this market at the breakout of the triangle chart pattern to ride on the potential bullish momentum.
Posted on 2016-03-30 06:30:08