Aussie Dollar – AUD/USD decline lower after price rejected its 0.7660 resistance level as we expected in our 8th June 2018 Market Outlook. Traders who went short as we recommended may consider continue holding onto the short position with a trailing stop behind as price is likely going to continue its decline in the coming days.
Japanese Yen – USD/JPY continue to rally higher after price breakout above its 110.15 resistance level. Given that the trend is still bullish, traders may consider buying into this market if price pullback into its 110.15 support level (Previous resistance level) to ride on the bullish trend.
Euro Aussie – EUR/AUD is making its way back into its 1.5620 resistance level. Given that the trend is bearish, traders may consider shorting this market if price indeed pullback into its 1.5620 resistance level. Ideally we would prefer to see some price rejections or any other form of confirmation before shorting this market to avoid false signals.