21st March 2018 Market Outlook

Kiwi Dollar – NZD/USD breakout below its 0.7190 support level yesterday which opened up the door for potential further decline. Traders may consider shorting this market to jump on the potential bearish run or wait for a pullback into its resistance level before shorting for a more favorable risk:reward trade.

NZDUSDrDaily

 

Aussie Loonie – AUD/CAD is approaching its key support area at 1.0000–0.9970. Given that the trend is bullish at the moment, traders may consider buying into this market to jump on the bullish trend. Ideally we would prefer to see some price rejections or any other form of confirmations before buying into this market to avoid false signals.

AUDCADrDaily

 

Pound Kiwi – GBP/NZD had a strong breakout yesterday which could potentially lead price higher in the coming days. Since the trend is bullish at the moment, traders may consider buying into this market to ride on the bullish trend. The next resistance level is located at 1.9760 which offer traders decent profit margin to trade the long side of the market.

GBPNZDrDaily