Technical levels to watch 91.00 - 91.50
We remain bearish on AudJpy, but are currently waiting for a pullback into some technical levels before looking for opportunities to sell.
AUDCHF - 4 HOUR
Technical levels to watch 0.6300
We remain bearish on Audchf, but are currently waiting for a pullback into some technical levels before looking for opportunities to sell.
AUDUSD - 4HOUR
Technical levels to watch 0.67977
As the dollar corrected, we stayed away from Audusd, but now we can see the structure is changing on the lower timeframes, putting AudUsd back on our watchlist. At its December meeting, the Reserve Bank of Australia raised its policy rate by 25 basis points to 3.1%, taking borrowing costs to their highest level in a decade.
CADJPY - 4HOUR
Technical levels to watch 99.500
In a surprise move last week, the Bank of Japan raised its tolerance band on 10-year government bonds to 0.5% from 0.25%, while keeping the ultra-low benchmark interest rate unchanged. Due to this move, CadJpy is no longer in its consolidation phase, and we are currently looking for potential sell-off opportunities if we retest the bottom of that range.
EURUSD - 4 HOUR
Technical levels to watch 1.05800
EURUSD is back on our watchlist for potential selling in 2023. On the lower time frames, we can see price is currently trading in a bullish channel. If we break that channel and retest the 1.05800 level, then we will consider selling.
GBPUSD - 4HOUR
Technical levels to watch 1.2150
GBPUSD is back on our watchlist for potential selling in 2023. On the lower time frames, we can see price has recently broke structure to the downside. 1.2150 remains a key technical area I am watching for a potential move lower.
Fresh figures show that the British economy shrank slightly more than expected in Q3, with household spending and investment falling significantly, raising fears of a recession.
USDCAD - 4 HOUR
Technical levels to watch 1.3580
Currently, USDCAD is trading in an uptrend and with the Canadian dollar weak, this is considered one of the best trading pairs for the future. The price will be monitored at the 1.3580 level and members will be updated in the trades taken section.
USDCHF - 4 HOUR