After yesterday’s fall under Tenkan-sen 1.1200 EURUSD found new local high near 1.1342. As long as chart finds itself under Tenkan-sen and (4/8) 1.1230, the most likely scenario indicates return to Kijun-sen support at 1.1082. Another break above resistance zone will be next purchase signal with potential target at (6/8) 1.1475.
GBPUSD currency pair also presents interesting setup. Price reached low from March 16 at 1.4052 and then retraced to Kijun-sen resistance 1.4174. If GBP/uSD breaks Tenkan-sen 1.4283 we will be able to see a double bottom pattern and chart should approach (8/8) 1.4648. From the other side, if resistances work and GBPUSD falls below today’s minimum and (3/8) 1.4038 it will be a downward trend continuation signal with potential target near (0/8) 1.3672.
The situation is way simpler at AUD/USD. Resistance zone is marked by Tenkan-sen 0.7547 and (6/8) 0.7568. Above this zone we will get purchase signal to (8/8) 0.7812. If however chart stays under indicated zone, AUD/USD will be directed to Kijun-sen 0.7394.
