Who’s able to commerce the Australian greenback?

I hope you might be as a result of AUD/JPY and AUD/NZD are sitting on key help and resistance ranges!

Take a look at their 1-hour charts:

AUD/JPY 1-hour Foreign exchange Chart by TradingView

I spy with my eye a development continuation alternative!

AUD/JPY is consolidating slightly below the 92.00 psychological that strains up with the highest of a descending channel that’s been round all week.

On this case, AUD/JPY can also be sitting near the 50% Fibonacci retracement of yesterday’s downswing and a key help zone from final week.

Shifting averages are pointing to extra bearish strikes because the 100 SMA crosses beneath the 200 SMA.

Look out for extra AUD promoting that might drag AUD/JPY right down to its intraweek lows.

Not assured that AUD/JPY will quickly face bearish stress? You may as well look forward to a retest of the particular channel resistance or a pair extra bearish candlesticks earlier than you commerce this week’s development.

AUD/NZD 1-hour Foreign exchange Chart by TradingView

Breakout alert! This week, AUD/NZD broke a development line that had been serving as help all February.

With worth bouncing decrease from the damaged development line AND the 100 SMA crossing beneath the 200 SMA, you possibly can guess that no less than some AUD bears are on to this setup.

Earlier than you promote AUD/NZD prefer it’s the most affordable Beyoncé live performance ticket obtainable although, you must observe that Stochastic is displaying a bullish divergence in opposition to the pair’s costs.

AUD/NZD hanging out close to its intraweek lows might make it simpler to purchase the pair in case merchants discover AUD-friendly market themes.

If AUD/NZD begins to realize traction from the 1.0925 help, you then must also be prepared for a visit again to yesterday’s 1.0960 highs.