Two short term technical setups in progress as of the moment with a 2:1 reward to risk ratio and better.
AUDUSD broke up above a previous supply area and now serves to test as a possible resistance turned support level. If this holds up, we can expect a much stronger upwards rally. However, this may be a stop run as short positions are stopped out with reverse buy to close orders that allow traders to resume shorting at a much more optimal price. I expect this to be unlikely as this long position is once again in the direction of our original trend.
Similarly, NZDUSD is setup for another short entry as it tests the most recent supply zone. This supply zone seems to be holding up. Will be targeting roughly a 60% move down to the previous midnight lows rather than the next expected demand zone at 0.701~ mark.