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Near-term Setups in AUDJPY, AUDUSD, USDCAD & GBPUSD

Near-term Setups in AUDJPY, AUDUSD, USDCAD & GBPUSD

Michael Boutros,

AUDJPY Daily

AUD/JPY Daily Chart

Earlier this week I highlighted a key support zone in AUDJPY around the 83-handle with the immediate short-bias at risk while above this region. Levels / outlook remain unchanged heading into the close of the week. Check this week’s AUDJPY update for the complete intraday levels.

AUDUSD 120min

AUD/USD 120min

Aussie is back at support heading into the close of the week at 7542/48- “a break below this threshold would risk substantial losses for the pair with such a scenario eyeing subsequent support targets at 7490 & 7450.” Look for a reaction off this level heading into U.S. Non-Farm Payrolls tomorrow. Interim resistance now 7590 with bearish invalidation steady at 7622/32 (channel resistance & weekly / monthly open). Latest AUDUSD Update (4/3)

USDCAD: I’m still holding a short off 1.3440s with initial targets at 1.3365 backed by 1.3310. Stops are against the weekly high’s but I’ll moving to break-even heading into tomorrow’s double whammy US / Canada labor market reports- expect volatility. I highlighted this setup in today’s scalp report.

GBPUSD: The near-term focus remains on a break of the 1.2410-1.2570 range highlighted earlier this week with the broader outlook constructive above the 1.23-handle. Levels / outlook unchanged from earlier this week. Latest GBPUSD Update (4/4)

Looking for trade ideas? Review DailyFX’s 2017 1Q Projections

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

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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