EURAUD Trade Analysis
Current Trend: Lower on intraday time frames.
Support Levels: 1.5981.
Resistance Levels: 1.6141.
EURAUD Daily Chart
EURAUD Trade Ideas
Price action on the EURAUD made a solid break lower last week through an important daily chart support level.
As the attached daily chart shows, this level has been a major level all year.
Now price has broken below this level it could open the way for the bears to make an extended move back lower. This level could also prove to be the key for the next move.
If we can see price rotate back higher into this level in the next few sessions, we can look for it to act as a role reversal level and a new resistance level.
This could also be a high quality level to start looking for new short trades inline with the recent momentum lower.
EURAUD 4 Hour Chart
AUDCHF Trade Analysis
Current Trend: Sideways range.
Support Levels: 0.6616.
Resistance Levels: 0.6714.
AUDCHF Daily Chart
AUDCHF Trade Ideas
Price on the daily chart of the AUDCHF is now testing the major resistance level.
This level has been a major resistance for this pair all year and if we can see price break higher, then we could very quickly see price move into make yearly highs.
Whilst I am looking for this level to break and for potential breakout trades in the coming sessions, it would not surprise to first see price either make a small rejection or form a period of consolidation under this level.
For any confirmed breakout trades higher, price will need to take out the recent swing highs and show a close above these levels.
AUDCHF 4 Hour Chart
