Jason Sen comments on AUD/USD, NZD/USD, Euro to US dollar and other Forex pairs - 02/11/2022

The pair is still trying to build a counter trend move. The problem with counter trend moves is that they are never smooth.
The bears still think they have control & keep trying to push lower so we keep seeing deep 150 pip moves lower before a strong recovery.
However in this tough counter trend move, the gains were not sustained & the pair collapsed swiftly to 5823.
EURUSD struggling to push higher in the counter trend recovery. 2 steps forward & 1 huge step back - this has been the trend for 5 weeks.
USDCAD scalping resistance at 1.3680/1.3700 & support at strong support at 1.3520/00 has been a great strategy for a week. Keep scalping while we wait for a breakout.
EURCAD shorts at first resistance at 1.3490/1.3510 worked perfectly with a high for the day exactly here. A 50 pips profit offered so far.
**Dollar pairs will obviously be influenced by today's Fed rate decision.**
AUDUSD collapsed to retest support at 6395/6385 & made a low at 6375 so obviously this remains the important levels for today. A bounce again targets 6435/45 , perhaps as far as 6465/6470. Further gains test last week's high at 6510/20.
Longs at 6395/6385 stop below 6360. A break lower targets 6330 & 6280/70.
NZDUSD first support again at the head & shoulders neck line at 5790/70 of course. Longs need stops below 5750.
Our longs target 5845/55 & 5890/5910. A break higher can reach 5980.
EURUSD support at 9880/70 is key to direction again today. Longs worked perfectly yesterday targeting 9915/25 & reaching 9950. Above 9955 today signals further gains towards resistance at 9985/95.
Longs at 9880/70 need stops below 9850 (a low for the day yesterday at 9851 so we are just holding the position). Further losses can target support at 9810/9790.
USDCAD holding below 1.3600 risks a slide to 1.3570/60 & perhaps as far as strong support at 1.3520/00. Longs need stops below 1.3480. A break lower is a sell signal.
Holding above 1.3630 can retest resistance at 1.3680/1.3700. Shorts need stops above 1.3720. A break higher is a buy signal.
EURCAD shorts at 1.3500/1.3480 work on the slide to 1.3450 & we could target support at 1.3390/70. Longs need stops below 1.3350.
Longs at support at 1.3390/70 can target 1.3450, perhaps as far as first resistance at 1.3490/1.3510. Shorts need stops above 1.3530.