Price Action Setups: AUDJPY, AUDCHF and AUDCAD

by Justin Bennett  · 

September 22, 2014

by Justin Bennett  · 

September 22, 2014

by Justin Bennett  · 

September 22, 2014

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Today we’re going to focus on the Australian Dollar as I believe it to be one of the more active currencies at the moment with several pairs providing potential setups.

AUDJPY is coming up on a huge support area at 96.0. This area had previously acted as resistance between April and July, and should now put up a good fight as support. This gives us an opportunity to watch for bullish price action to join the rally.

Summary: Watch for bullish price action on a retest of the 96.0 support area. Key resistance comes in at 96.95 and 98.65.

audjpy daily forex chart

The next AUD pair we’re going to look at is AUDCHF. We’ve been waiting for a daily close below the .8388 level for a few days now, and today saw a close at .83329.

From here we can look for bearish price action on a retest of a new resistance area between .8360 and .8388. You can see from the chart below that this area previously acted as support and resistance between May and June.

Summary: Watch for bearish price action between .8360 and .8388. The next key support comes in at .8210.

audchf daily forex chart

AUDCAD analysis

audcad daily forex chart


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