Currency Watch..A look at the setups in the EURUSD GBPUSD And AUDUSD heading into Wednesday
The week has started out with a bit of profit taking for USD Bulls. Traders could be trying to lock in profits ahead of the fireworks beginning Thursday with the ECB and BoE interest Rate decisions. Followed by NFP on Friday. Heading into Asian trading I will be watching the AUDUSD which is resting at the top of its ascending channel. Price action at this level should do the talking. A break higher represents a trend break and could favor a move higher towards 1.0290 followed by a 1.0350. A hold at these levels and another push towards the bottom of the channel around 1.01 could be in play. Keep in mind AUD GDP and EUR GDP are due in early Wednesday trading. As always keep your trades Keane and play it safe.
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