Daily Price Action
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Price Action Setups: AUDUSD, NZDUSD and EURGBP

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AUDUSD has been sold heavily for the past three weeks. However the pair was able to find some support today from the January lows. Given the nature of the recent bearish momentum, I don’t see this bounce materializing into anything substantial.

The pair came into resistance late in the day around .8830. There is also another resistance level just above at .8888. Either one of these levels make an ideal place to look for bearish price action.

There isn’t much in the way of support until the .8570 area, with a longer term objective at channel support around .840.

Summary: Watch for bearish price action between .8830 and .8888. Initial support comes in at .8570.

audusd daily forex chart

NZDUSD analysis

nzdusd daily forex chart

EURGBP analysis

eurgbp price action-blur

 

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