AUDUSD pulled back last week from recent highs. If the pair is to continue higher, I would expect immediate support in the .93 area. A price action buy signal such as a pin bar from this level would create an interesting setup. As always, we’ll have to remain patient and watch how the market unfolds.
I posted about the AUDNZD a week ago, and mentioned that we would probably see price retest recent highs at 1.09. We got that retest last week. For now, the AUDNZD is still range bound. We will need to wait and see what next week brings as the pair closed at a critical level last week. If it were to break higher, the next key resistance would come in around the 1.12 level.
The NZDJPY formed multiple pin bars last week from a key level but was unable to break higher. I actually wrote about this pair a week ago based on the first pin bar that formed on the daily chart. The pair now sits at a critical level and could go either way. Multiple pin bars without any real follow through shows that the bulls and bears are still battling for position.
