A technical view of AUDUSD and AUDJPY with new weekly pivots.


Bears selling at the 61.8% are setting up a lower high. With bears having taken profit and bulls buying at MM1 and the target of MPP having been met we don't have any further targets as far as monthly pivots are concerned. Looking at price action - bears would like to drive this down and make a lower low. Bulls would like to drive price up to 0.81 as that is the next level of resistance above 0.80.


Price will be opening at WPP support. WM3 is resistance and gives bears a swing with a target of WM1. If price breaks WPP then bulls will be looking at WM2/ MS1 confluence with a target of WM4. 0.81 is WR2. Price is bearish on this time frame with a falling stroch.


Price is well below the monthly target for Feb and at support on this time frame. Further support at 82.000. Bears don't have a price to short on this time frame though new weekly pivots do provide some opportunities.


The 21 remains in control and price is bearish. WPP is resistance with a target of WS2 - this is 82.000. A break of WPP means WM3 is the next level of resistance.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.