Wednesday market analysis: AUD/USD & AUD/JPY

Hey traders,

some interesting setups are lined up for Wednesday, let’s check them out:

1. AUD/USD

We can see a sharp drop on the AUD/USD after the  4 pm high impact news on the USD

What we may see now is a minor or major pull-back. Don’t forget that tomorrow is riddled with high impact news events so if you are trading this pair, trade with caution.

2. AUD/JPY

There is a clean breakout of the support zone on the AUD/JPY, but before we join the sellers we have to be patient enough to see the reaction of price during the 10.55 pm high impact news on the Australian dollar.

Then we also have to see how the daily candlestick closes. If we still have a descent breakout, then our next possible support level will be 88.098

What say you?

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