6^th December 2021 Technical Analysis

GBPJPY

GBPJPY fell on Friday, and the technical bias is bearish due to lower lows in the recent downtrend.

The pair is currently trading near 149.449，and multiple resistance levels can be seen above which may prevent the price from rising further.

Resistance level 1: 149.750

Resistance level 2: 150.100

Resistance level 3: 150.600

Below the price, multiple support levels can be seen which may prevent the price from falling.

Support level 1: 149.100

Support level 2: 148.800

Support level 3: 148.500

Today, the UK will announce the construction industry PMI data for November. Higher data indicate favourable to the pound, so the GBPJPY currency pair is bullish, and vice versa.

Looking at the current price trend and economic development, it may be a good trading choice to sell the GBPJPY currency pair near the current level.

AUDUSD

AUDUSD fell on Friday, and the technical bias was bearish due to lower lows in the recent downtrend.

The pair is currently trading near 0.70117，and multiple resistance levels can be seen above which may prevent the price from rising further.

Resistance level 1: 0.70280

Resistance level 2: 0.70470

Resistance level 3: 0.70830

Below the price, multiple support levels can be seen which may prevent the price from falling.

Support level 1: 0.69850

Support level 2: 0.69600

Support level 3: 0.69250

On Tuesday, the Reserve Bank of Australia will announce the latest interest rate decision data. A rate hike indicates that it is good for the Australian dollar. Therefore, it is bullish for the AUDUSD currency pair, and vice versa.

Looking at the current price trend and economic development, it may be a good trading choice to sell the AUDUSD currency pair near the current level.