Price has been breaking lower on the H4 chart and we are looking for potential short opportunities around the 0.9230 and 0.9300 resistance levels which confluence with 50% and 61.8% fibonacci levels as well.
The Immediate resistance level is at 0.9150, with demand zone around 0.9000 region and supply zone around 0.9400 region.
OUR DIRECTIONAL BIAS FOR THE WEEK
- NZD bearish (RBZD tone was dovish in their last statement) - watch out for employment data and Gov Wheeler speech
- CAD neutral (BoC tone was optimistic in their last statement, and potential bottom of Oil) - watch out any update in the Oil market
For more detailed analysis, visit our blog at: www.fxpresearch.com/...uary-market-analysis
The Immediate resistance level is at 0.9150, with demand zone around 0.9000 region and supply zone around 0.9400 region.
OUR DIRECTIONAL BIAS FOR THE WEEK
- NZD bearish (RBZD tone was dovish in their last statement) - watch out for employment data and Gov Wheeler speech
- CAD neutral (BoC tone was optimistic in their last statement, and potential bottom of Oil) - watch out any update in the Oil market
For more detailed analysis, visit our blog at: www.fxpresearch.com/...uary-market-analysis
