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2021/11/12 Market Analysis

Authored by TD Markets
12.11.2021
Market Analysis
0
2 min

AUDNZD

AUDNZD' bulls are starting to gain momentum. This comes after the market rejected 1.03500 which also aligned with previous structure as well as the 78.6 fib level. The descending channel is also breached to the upside and as such, traders anticipate a shift to the upside. A break and retest of the resistance will confirm further upside momentum.

CHFJPY

CHFJPY is testing the neckline. A break below the structure will see the Yen gain strength against the Swizz and possibly other currencies. Another possible scenario in this setup is a rally back to the previous high (resistance) and a drop. A break and retest will alert traders for bearish continuation.

USDJPY

USDJPY is forming a messy structure however, since the market is back at the resistance zone, traders will be looking for a rejection to confirm a possible reversal or start of a retracement. A break above will change this view and a short-term buy will develop.

Authored by TD Markets
12.11.2021
Market Analysis
0
2 min
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