Wednesday Market Analysis: AUD/USD & EUR/JPY

Hello traders,

Let’s hit them charts:

1. AUD/USD

The bulls in AUD/USD have finally hit a strong resistance zone, coupled with a formidable 200 moving average, also serving as a strong resistance level

This is a viable sell entry, but we must not disregard CPI news on the AUD scheduled for 1.30 am on Wednesday. If you are going to sell, do so with caution and exit the trade before news release

2. EUR/JPY

Hidden bullish divergence spotted on EUR/JPY.

I will be waiting to see how the daily candlestick closes and the 4-hour candlestick formation before joining the buyers. The EUR/JPY is a better choice to trade because the news will be at 9 a.m and 6 p.m tomorrow.

I also consider both news events as low impact news events (if you are a swinger).

What say you?

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