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Setups in AUDJPY, AUDCHF, GBPUSD Ahead of FOMC

Setups in AUDJPY, AUDCHF, GBPUSD Ahead of FOMC

2016-03-14 18:16:00
Michael Boutros, Strategist
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AUDJPY- We've reacted to near-term confluence resistance & while the immediate bias is lower, we'll be looking for this pullback to offer more favorable long entries. Review AUDJPY Update

AUDCHF- Our outlook turned bearish last week after the pair marked an outside-day reversal candle off our final resistance target at 7546/54. Bias remains weighted to the short-side near-term while below this mark. Again here we would ultimately be looking for the pullback to offer better long entries lower down. Review AUDCHF Update

GBPUSD- Sterling came into resistance on Friday at the 2/19 uncovered close before pulling back. Note that this level converges on the median-line extending January low and may offer more significant support near-term. Interim support at 1.4250 with our bullish invalidation level set to the January low-day close at 1.4218. (interested in long-triggers against this level) Review GBPUSD Update

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---Written by Michael Boutros, Currency Strategist with DailyFX

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