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Comdoll trading is hot these days, yo!

Check out NZD/USD and AUD/CHF‘s setups to see if you can make pips from them before the next economic themes hit the markets.

NZD/USD: 1-hour

NZD/USD 1-hour Forex Chart
NZD/USD 1-hour Forex Chart

After falling sharply this week, NZD/USD is now flirting with the .6000 major psychological handle.

As you can see, the MaPs is also around a trend line support that has been keeping the bears away since late March. What’s more, stochastic is chillin’ like ice cream fillin’ in the oversold territory!

Buying at the first signs of bullish momentum would give you a good reward-to-risk ratio especially if you aim for the previous highs near the .6075 – .6125 zone.

Not a fan of the Kiwi? That’s aight, you can also wait for a clear break below the trend line and then aim for previous support levels closer to .5925 or .5850 instead.

Whichever bias you choose to trade, make sure you got your NZD/USD volatility analysis locked in and that you follow your trading plan like Dr. Fauci told you to do it!

AUD/CHF: Daily

AUD/CHF Daily Forex Chart
AUD/CHF Daily Forex Chart

Resistance alert! AUD/CHF has been having a hard time making new highs above .6100 after the pair had climbed by about 800 pips in the last couple of weeks.

Aside from the gap situation back in March, .6100 also lines up with a 61.8% Fibonacci retracement level on the daily time frame. Not only that, but there’s also a low key bearish divergence in the mix!

Think the Aussie will extend its downtrend against the franc? Shorting at new April lows would make for a good trade especially if AUD/CHF drops back down to the .5700 – .5800 levels.

If you believe that the Aussie will make its way towards the 100 and 200 SMAs instead, then you might want to at least wait for a bear break above April’s current highs before you make them breakout plays.

Good luck and good trading this one!

Forex Chart Settings:

Slow Stochastic: 14,3,3
100 SMA: Blue line
200 SMA: Red line