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2022/01/24 Market Analysis

Authored by TD Markets
24.01.2022
Technical Analysis
0
2 min

AUDJPY

AUDJPY closed Friday's trading session very bearish. The support zone has been broken and the previous daily candlestick closed below. This provides bearish confirmation and traders will be preparing short positions. A retest of the zone will continue the downtrend.

AUDUSD

AUDUSD is currently breaking the support zone. The descending trendline is still providing the resistance expected by traders and aligns with the overall bearish structure. Although there are concerns around the FED and traders are sitting tight and waiting for the FED meeting which is taking place on Wednesday, structurally the USD is strong at the moment. A retest will continue the bearish trend.

GBPAUD

GBPAUD failed to create new lower lows upon bouncing from the daily resistance zone. At the moment the market is testing the zone for the 3rd time. This indicates that the resistance zone is becoming weak and traders anticipate a break and close above the zone. At the moment the market has broken above the descending channel and is forming higher highs and higher lows. A new higher high will confirm further bullish momentum.

Authored by TD Markets
24.01.2022
Technical Analysis
0
2 min
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