Aussie Kiwi – AUD/NZD rejected its 1.0540 key resistance level earlier today which could potentially push price lower in the coming days. Given that the trend is bearish, traders may consider shorting this market as price is likely going to continue to move lower in the coming days. There is no immediate support level below which offer traders decent profit margin to trade the short side.
Euro Dollar – We have a resistance level in EUR/USD at 1.1235 which traders may consider shorting as the momentum is still bearish at the moment. Ideally we would prefer to see price rejects the 1.1235 resistance level before shorting for a safer entry.
NZD/CAD – NZD/CAD rejected its 0.8975 support level and rally higher. The momentum is clearly bearish at the moment therefore traders may consider buying into this market to ride on the bullish momentum. Price is likely going to continue to rally higher into its 0.9095 resistance level. If price breakout above the 0.9095 resistance level, we are then likely going to see further rally in the coming days.
Posted on 2016-06-15 06:30:12