The AUDUSD Performance

The USD strength is pulling through on this pair, the expected break has happened.

• Traders can take positions.
• The target in sight is at a price point level of 0.65326.

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

The EURCHF Performance

The EUR has found a strong support against the CHF at price point of 0.92706. The breakout after 0.93480 has happened. A new high has been formed as well as an opposing candle creating a resistance. Traders must be cautious and wait for the resistance to break before entering positions.

• Target 1 is set at a price point of 0.94353.
• Target 2 is set at a price point of 0.95338.
• Target 3 is set at a price point of 0.96506.

Traders must be mindful of each target and that we only consider the next resistance if the previous one has broken successfully.

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

The NZDUSD Performance

This pair is correlating with the AUDUSD, with more downside expected. A strong low was formed on the outer trend, and the low's break has now formed a lower low. The break below the price point of 0.61766 gave traders a fantastic follow-through to look for short positions.

The target in sight is between price points 0.60959 & 0.60830. The reason why a range is given is because the price does not always trade to the wick or pin of the candle, traders should be vigilant of the Bid & Ask when setting exits.

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

Final Thoughts On Today’s Analysis

In conclusion, the analysis of the AUDUSD, EURCHF, and NZDUSD performances provides valuable insights for traders navigating these currency pairs. The observed USD strength in AUDUSD has led to the anticipated breakout, presenting trading opportunities with a target set at 0.65326. For EURCHF, a strong support level at 0.92706 and subsequent breakout above 0.93480 suggests potential upward movements. Traders are advised to exercise caution, awaiting the break of resistance at each level, with targets set at 0.94353, 0.95338, and 0.96506. For more on market analysis, visit our YouTube channel.