Forex Market Commentary By TitanFX

[titanfx]

AUD/JPY – Aussie Dollar At Risk of Breakdown Vs Japanese Yen

Key Highlights
• The Aussie Dollar is struggling against the Japanese Yen and just holding the 86.00 support.
• There is a steep bearish trend line with resistance at 86.20 forming on the 4-hours chart of AUD/JPY.

AUD/JPY Technical Analysis
The Aussie Dollar after a close below 86.60 struggled a lot against the Japanese Yen. The AUD/JPY pair is trading above a crucial 86.00 support, but remains at a risk of a breakdown.

The pair has almost breached the 86.00 support area and poised to extend declines. On the upside, there is a steep bearish trend line with resistance at 86.20 forming on the 4-hours chart.

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Posted by Aayush Jindal - 'Titan FX Currency Analyst'

 

[titanfx]

AUD/USD – Aussie Dollar to Consolidate Before Next Move?

Key Highlights
• The Aussie Dollar struggled recently and traded towards 0.7620-0.7600 against the US Dollar.
• There is a key bearish trend line forming with resistance at 0.7695 on the 4-hours chart of AUD/USD.

AUDUSD Technical Analysis
The Aussie Dollar struggled a lot during the past few weeks and settled below 0.7700 against the US Dollar. The AUD/USD pair is currently recovering, but facing a major hurdle near 0.7695.

The pair recently formed a swing low at 0.7639 and started an upside move. It faces many resistances on the way up such as 0.7690 and 0.7700. There is also a key bearish trend line forming with resistance at 0.7695 on the 4-hours chart.

The trend line resistance is close to the 61.8% Fib retracement level of the last drop from the 0.7730 high to 0.7639 low.

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Posted by Aayush Jindal - 'Titan FX Currency Analyst'