24th July 2014 Market Outlook

Aussie Kiwi – AUD/NZD broke its 1.0824 key resistance level and shot significant higher as we expected in our 22nd July 2014 Market Outlook. We are likely to see price continue this strong bullish move and traders that have missed out this trade could consider buying on dips to join this strong bullish move.

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Aussie Yen – AUD/JPY has shot significantly higher recently after it broke its 95.39 key resistance level. Traders may consider buying when price retrace back to 95.39 key support level (Previous resistance level). If price continue to take out the resistances above it, we are likely to see this market to continue its bullish move in the coming weeks.

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Kiwi Dollar – NZD/USD broke its 0.8648 key support level today morning. This comes without surprise as we have been in a strong down trend recently as we commented in our Daily Market Outlook. 0.8648 key support has now become new resistance level in this fresh bearish trend and traders may consider selling short if price retrace back up to this 0.8648 key resistance level.

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