Wednesday Market Analysis: AUD/USD & CAD/JPY

Hello Traders,

Let’s hit them charts:

1. AUD/USD

Price on the AUD/USD has reached a key resistance zone on the daily time frame, which also aligns with the 200 ma serving as a resistance level.

I will be waiting for the close of the daily candlestick in order to see if the daily candlestick close aligns with my bearish bias before selling

2. CAD/JPY

CAD/JPY is also looking good.

Though the general trend is heavily bearish, we are most likely to see a 50% retracement, or a reversal to NPRZ.

I will also be waiting for the close of the daily candlestick, before engaging this setup

What say you?

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