AUD Awaits Resolution Of Vastly Oversold Line

EUR/CAD price sits just above a vital point at 1.4150 and is currently oversold. A break of 1.4150 sees next points below at 1.4125, 1.4093, 1.3860, and big line break at 1.3800. Any downside approaches to 1.4150 leaves this point more oversold and at critical juncture. It is the line to evaluate for the coming week.

USD/JPY For the current trend to remain, 107.06 and 105.07 must hold, both points are not only oversold but are rising with each new day price holds. Further long entries are found at 108.62, 108.12, 107.06. If 105.07 ever breaks below, current trend must re evaluate. Points above to watch in coming days include: 109.34, 109.48, 109.92, 110.34, 110.85. Then the next Big line break occurs at 111.28 before prices may travel higher. The trend range is essentially 107.06 - 111.28.

AUD/USD AUD awaits resolution of a vastly oversold line just below at 0.8830. Unless or until that line breaks, current price remains heavily oversold and risks a move higher. Current 0.8885 price is the result of a failure at 0.9390 and a 505 pip downside move in less than 2 weeks. A correction is warranted especially from Intraday severely oversold moving averages 5 to 250 day. But ranges are wide due to the speed of the 500 pip move. The immediate lines above are found at 0.8957, 0.9151, 0.9219. Only a break of 0.9286 means price has a chance to move significantly higher. Moving forward strategy for now is cautious longs above 0.8830 and any approaches to 0.8830.

EUR/USD still remains trapped between a rising line now at 1.2508 and a stasis line at 1.3405 and 1.3443. The line at 1.2508 is vastly oversold. Further downside price moves leaves 1.2508 more deeply oversold and overbought versus 1.3405. But if price moves further down, more resistance points build above. Like AUD, a resolution is needed at 1.2508. Because price is at critical junctures, EUR/USD risks a huge bounce higher.

Resistance above in coming days: 1.2897, 1.2942, 1.3022, 1.3102, 1.3112.

Immediate supports below: 1.2821, 1.2819, 1.2775