Daily Price Action
Shares

Price Action Setups – EURCAD and AUDNZD

Shares

Not much happening in the market today in terms of valid price action setups. However, the two pairs below continue to show clear support and resistance levels at which we can watch for future price action setups.

From my post on Tuesday, we did see the AUDNZD make an impressive move higher today, closing above recent highs. If the current range is to stay in tact, we could see price continue on to the 1.09 figure before running into resistance. Likewise the 1.073 figure should continue to act as support until price action proves otherwise.

price action chart setup of audnzd

The EURCAD showed resilience today by closing above a key level. It appears that the bull trend dating back to August 2012 is still in tact, at least for now. That being said, with today’s move spanning almost 130 pips, we may see price retrace to the 1.512 figure before moving on to 1.53, if the market is to move higher of course.

eurcad price action chart setup

Leave a Comment: