Aud/Usd one more run to 0.6840$

The pair has bottomed last week at the area of 0.6660$ and bounced till 0.6810$ area.

The pair retraced to test the 23.6% fibonnaci level.

Also on the 15min chart , we find it supported by the 200 Moving averages.

RSI is trading at 45 level on the 1h chart.

I prefer going long at current area of 0.6780$ with target 0.6840$ and stop loss on break below 0.6730$ .this area is the last defense before turning bearish in the short term again.

There might also be a chance of very good support at 61.8% fibonnaci level and horizontal support as well at 0.6750$ area.

Pick up any of these two entries , with your target at 0.6840$ and stoploss on 1h candle close below 0.6730$ .

Usd recovering against the board

The dollar has been regaining some strength since friday noon. Usdjpy has recovered 100 pips from 107.30¥ ...the pair might face some tough resistance at current area, however i think we might be heading towards 110.80¥ soon. Resistance area can be found at 108.40 followed by very tough resistance at 108.80¥. If broken , we will have clear way to break the medium term downtrend andstart building new bullish trend targeting a break above 115¥ in the medium term. I am on the side of that reversal scenario unless we see a decisive break below 106¥ on daily or weekly close.

Gbp/Usd bearish below 1.2980$

The pair broke below the rising trendline in red as shown in the chart below. It is also trading below 200 hour moving average. There is horizontal resistance at 1.2980$ area followed by 1.3080$ area. Being Short is favorable with stop loss above 1.3080$. Target should be around 1.2640$ , you can book some profits at 1.2780$.

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