Week ahead – AUDUSD, NZDUSD and more

Last week reactions were kinda predictable so I am not surprised by EURUSD move back to 3000's. In the week ahead I am expecting bounces between 3020's and 3150's max but EURUSD is not the pair I am watching right now.

The pair I like for the upcoming week is AUDUSD. AUDUSD has been correcting nicely on a daily from 0850's since 29.2.2012. Now it is at 50-61.8correction and it broke the channel of correction. I think we are going to see more of the action around 0330's and 0450's. To be precise I would watch the 0330's for the reaction. Very nice level from the past so I am expecting piles of orders waiting in this zone. If the reaction is bullish and strong the retest of 0450 is the first blocker ahead for this pair.

In a similar fashion I am reading NZDUSD. But this time would SHORT the PAIR around 8270's. The level identification is clear, many orders are waiting at this level and zone 8260's and 8270's is from my point of view a nice bearish screamer.

Let's wait and see.
Have a good one.

J.