AUDJPY: (update)

AUDJPY has dropped around +550 pips since the last commentary. According to the structure, the bears are still in charge and aiming for 77.940 price level to complete the structure. At the moment the market is trading below 79.900 and a retest of the zone could see a substantial drop in price.

EURUSD

The 61.0 fib level on EURO-DOLLAR is holding firm as seen by the bullish impulse wave as well as the bull flag. The recent price action indicates there is momentum to the upside and traders will be keeping an eye on the break and close above the flag. At the moment there is short-term bullish momentum developing which will likely complete once price breaks above 1.13800.

GBPNZD

GBPNZD has been in a steady uptrend by forming higher highs and higher lows. The recent price action confirms the bulls are in charge and will be looking to break above the resistance around 1.96320. A rejection will see a drop back to the support at 1.9400 before looking for bullish setups.