Tuesday, March 19, 2013

AUDUSD/NZDUSD Price Action: Inside Bar Trade Setup 20/03/2013

AUDUSD (above) closed the day with an inside bar after price had broken through Resistance at about 1.0366. This is an indication of indecision in the market. Given this setup, we could see a minor pull back into support at about 1.0273 where new buy entries could be made pending price action.
The NZDUSD faces bearish pressure as it hits dynamic resistance. The inside bar price Action Setup is a sign of indecision but because of the previous bearish trend on this pair, traders could push prices lower in the coming days. Support is seen at 0.8160

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