Welcome in our today’s review of potential Price Action setups. Yesterday we said that this week may be really interesting, but Tuesday morning is rather not. Prices are far away the key levels or there is a lack of important signals to enter the positions. Due to that, we have only 3 interesting currency pairs for today:

AUD/JPY:

Once again cross is attacking a strong resistance – yesterday it was not able to close above the level. If correction occurs, it will be worthy to look for opening long positions opportunities (near the local support, after PA buy signal). Do not try short positioning, because it will be a trend opposite move.

AUD/USD:

Similar situation here – on Aussie. In the case of correction look for long positions. If resistance fails to defend, than re-test from the top will be a great purchase opportunity. Of course after PA buy signal (even on lower TF like H1).

NZD/USD:

Rate hikes in New Zealand and forecasts of further increases ended up with rally on Kiwi. Everything shows that, the closet resistance will be finally broken and price will approach high from 2011. If currency pair falls to the one of the support zones, we will be able to look for long positions opportunities. Also in the case of breaking the resistance it is worth to look for long signals – with the re-test of latter resistance, which ten should act as a support.

Error, group does not exist! Check your syntax! (ID: 3)