The AUDUSD Performance

The AUD strengthened at the beginning of the week. We look to target 2 at a price point of 0.66558. Price broke through 0.65416 by closing above with a daily candle.

Traders should continue to monitor the strength of the US dollar (DXY) and remember that we are not trading the overall movement of this pair but the minor levels.

Please note that this should not be used as advice, but as support that can assist clients to make a more informed decision on their own. Risk Management must be applied on a strict basis.

The NZDCAD Performance

Price bounced off the fib level at 38.2. The target is at a price point of 0.83590. Entries have been triggered at  0.81574 & 0.82211.

Please note that this should not be used as advice, but support that can assist clients to make a more informed decision on their own. Risk Management must be applied on a strict basis.

The EURCHF Performance

This pair jumped from support level 0.95558. Both the inner and outer trend has been broken, price has also retraced and bounced off the trendline. The minor target is set at a price point of 0.97934. Traders should be monitoring the daily candle close today above resistance 0.96764 or alternatively look for

intra-day entries by entering the above wicks, should the price do so.

Please note that this should not be used as advice, but as support that can assist clients in making a more informed decision on their own. Risk Management must be applied on a strict basis.

Final Thoughts on Today’s Analysis

In conclusion, today's analysis provides a comprehensive overview of the recent performance of the specified currency pairs, offering insights into potential price movements and emphasizing the importance of cautious decision-making and risk management. Traders are encouraged to use this information as a supportive tool in their decision-making process, with the understanding that it does not constitute financial advice. Visit our YouTube channel to read more.