Key Trading Levels for The Week Ahead

Last week
AUDJPY, AUDUSD, EURJPY, EURUSD, GBPJPY, and GBPUSD all finished positive for
the week after a strong sell off the week before. EURUSD and GBPUSD rallied the
strongest. Will the rally continue for a second week or was that a short relief
rally within the longer-term downtrend?

AUDJPY Daily chart:

Monthly
support at 86.24, resistance at 90.29 and 90.72.

Weekly
support at 86.24, resistance at 94.31 and 95.73.

Daily support
at 87.28, resistance at 90.43 and 91.16.

Price
rallied and held at the 90.29 monthly resistance level last week. Will price
hold at the 90.29 monthly resistance level and decline down to the 86.24
monthly support level this week?

AUDUSD Daily chart:

Monthly
support at 0.6991, 0.6967, and 0.6826, resistance at 0.7555.

Weekly
support at 0.6967, resistance at 0.7314.

Daily
support at 0.6828, resistance at 0.7030 and 0.7051.

Price
rallied and held at the 0.7030 and 0.7051 daily resistance levels last week.
Will price hold at the 0.7030 and 0.7051 daily resistance levels for a move
back below the 0.7000 level this week?

EURJPY Daily chart:

Monthly
support at 134.12 and 133.47, resistance at 137.49.

Weekly
support at 133.14, resistance at 137.52.

Daily
support at 134.77 and 132.65, resistance at 135.51 and 136.49.

Price was
range bound and held above the 134.12 monthly support last week. Will price
continue to consolidate between 134.12 monthly support and 136.49 daily
resistance this week?

EURUSD Daily chart:

Monthly support
at 1.0522, 1.0462, and 1.0340, resistance at 1.0635.

Weekly
support at 1.0522, resistance at 1.0635.

Daily
support at 1.0471, resistance at 1.0642.

Price
rallied back to the 1.0600 level last week. Will price hold at the 1.0600
resistance level and move back below the 1.0522 monthly support level this
week?

GBPJPY Daily chart:

Monthly
support at 158.21 and 150.97, resistance at 163.06 and 163.87.

Weekly
support at 158.06 and 152.89, resistance at 163.06.

Daily
support at 159.04 and 155.59, resistance at 159.61 and 161.85.

Price was
range bound and held above the 158.21 monthly support last week. Will price
continue to consolidate between 158.21 monthly support and 161.85 daily
resistance this week?

GBPUSD Daily chart:

Weekly
support at 1.2251, 1.2195 and 1.2074, resistance at 1.2647.

Daily
support at 1.2411 and 1.2155, resistance at 1.2614.

Price
rallied back to the 1.2500 level last week. Will price hold at the 1.2500
resistance level and move back below the 1.2411 daily support level this week?

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may have been written by a third party. ACY makes no representation or warranty
and assumes no liability as to the accuracy or completeness of the information
provided, nor any loss arising from any investment based on a recommendation,
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on which you can rely.

This article
was written by Duncan Cooper – Senior Market Strategist & Trading Mentor.