GBP/AUD looking Bearish

GBP/AUD is trading in sideways trend and from the past few trading sessions, prices are not sustaining at higher levels & looking weak for the upcoming sessions. The pair is consolidating with strong negative bias to give a breakout at downside. It is facing resistance of 30 and 200 DMA. Prices are also taking support at the important level of 1.9320. Today if the pair breaks its support level & manages to sustain below it, then we can expect it to test the level of 1.9250/1.9210 in today's session.

INDICATORS:-

MACD line is also sustaining in the selling territory, indicating the bearish trend in the pair.

STRATEGY :- GBP/AUD is looking further bearish on charts. One can go for sell on higher level strategy for this pair for intraday to midterm positions.

Pivot Points

                                                 

	S3	S2	S1	PIVOT	R1	R2	R3
EUR/USD	1.0604	1.0703	1.0759	1.0858	1.0914	1.1013	1.1069
GBP/USD	1.4640	1.4719	1.4764	1.4843	1.4888	1.4967	1.5012
USD/JPY	118.61	119.01	119.65	120.05	120.69	121.09	121.73
USD/CHF	0.9465	0.9509	0.9585	0.9629	0.9705	0.9749	0.9825
AUD/USD	0.7430	0.7502	0.7568	0.7640	0.7706	0.7778	0.7844
EUR/GBP	0.7203	0.7242	0.7273	0.7312	0.7343	0.7382	0.7413
USD/CAD	1.2391	1.2421	1.2464	1.2494	1.2537	1.2567	1.2610
NZD/USD	0.7384	0.7433	0.7463	0.7512	0.7542	0.7591	0.7621

NZD/USD Bearish on charts

The primary trend of NZD/USD is bearish on charts but from past few trading sessions prices are not sustaining at lower levels & consolidating below its falling trend line. In its hourly chart, prices are consolidating with strong positive bias to give break out at upside. It is also taking support of 30 DMA and if it breaks its resistance level, it can come up to test its 200 DMA. If the pair breaks the resistance level of 0.7480 at upside then we can expect it to test the level of 0.7535/0.7565.

INDICATORS:-

RSI is sustaining in buying territory supporting the upcoming bullish trend in the pair.

STRATEGY:- NZD/USD has bounced back from the lower level & looking bullish on charts for next few session. One can go for buy on dips strategy for this pair for intra day to mid term positions. 

	S3	S2	S1	PIVOT	R1	R2	R3
EUR/USD	1.0637	1.0677	1.0721	1.0761	1.0805	1.0845	1.0889
GBP/USD	1.4613	1.4675	1.4749	1.4811	1.4885	1.4947	1.5021
USD/JPY	118.40	118.90	119.34	119.84	120.28	120.78	121.22
USD/CHF	0.9517	0.9578	0.9623	0.9684	0.9729	0.9790	0.9835
AUD/USD	0.7479	0.7529	0.7565	0.7615	0.7651	0.7701	0.7737
EUR/GBP	0.7154	0.7191	0.7226	0.7263	0.7298	0.7335	0.7370
USD/CAD	1.2420	1.2496	1.2559	1.2635	1.2698	1.2774	1.2837
NZD/USD	0.7292	0.7341	0.7396	0.7445	0.7500	0.7549	0.7604

USD/JPY forecast

The USDJPY had a very strong session on yesterday, slicing through the 120 level during US trading. With that, the market looks very bullish and if we can break above the top of the range for the session on Monday, we are more than willing to start buying and aiming for the 122 level. Any pullback at this point of time should find buying pressure, as the 119 level looks to be very supportive.We believe that this market will continue to go much higher, probably heading to the 125 level.