EURUSD, AUDUSD and EURJPY All Defending Important Mid-Term Support

After interesting last seven trading days, the volatility lowered and now we have the time when one camp can lick the wounds and other take a rest and count the profits. American Dollar is a bit stronger and it looks like Dollar buyers will try to gain control over the market in the next few days. On the other hand, for example on the EURUSD and AUDUSD we are on the strong supports where a possible bounce can end the appreciation of the USD.

EURUSD is defending the support created by the high from the August 2015. Sellers tried to broke it few times already but without a success. The price being so close to the support creates a nice trading opportunity with the desirable risk to reward ratio.

AUDUSD defended the up trendline and the 23,6% Fibonacci. We have only one resistance left for the full buy signal – upper line of the flag.

EURJPY is defending the neckline of the mid-term iH&S. The trend is positive and the iH&S can show us a bottom of the recent bearish correction.

This article is written by Tomasz Wisniewski, a senior analyst at Alpari Research & Analysis