Aussie Kiwi – AUD/NZD is making its way back into its 1.0540 key resistance level which traders may consider shorting as the overall trend is still bearish at the moment. Ideally we would prefer to see price rejects the 1.0540 key resistance level before shorting for a safer entry. There is no immediate support level below which offer traders massive profit margin to trade the short side.
Loonie Dollar – USD/CAD is moving higher back into its 1.2915 resistance level. If price pullback into the resistance level and rejected it, traders may then consider shorting this market to ride on the bearish trend. The next support level is not found until 1.2550 which offer traders huge profit margin to trade the short side.
Japanese Yen – USD/JPY decline lower after price rejected its 106.38 resistance level. Given that the long term trend is still bearish, we are likely going to see price continue to decline lower in the coming trading sessions. Traders may consider shorting this market to ride on the bearish trend for a short term trade.
Posted on 2016-06-14 06:30:39