AUD/USD we wrote: Outlook remains negative after we rejected 200-week moving average resistance…and holding first resistance at 7190/7200 re-targets 7170 then 7145/35.
Shorts at 7190/7200 worked perfectly!
NZD/USD shorts at strong resistance at 6550/60 worked perfectly.
The outlook remains negative for the pairs
TODAY’S ANALYSIS
The AUD/USD outlook is negative and holding first resistance at 7190/7200 re-targets 7170 then 7145/35. (and pip away yesterday). A break lower this time meets minor support at 7115/10 for some profit-taking on shorts perhaps but longs are probably too risky.
Shorts at 7190/7200 need stops above 7225. Obviously there’s a selling opportunity at 7250/60, with stops above 7280.
NZD/USD shorts at 6550/60 target 6520/10 (hit and we bottomed exactly here) with minor support at 6480/70. Further losses meet strong support at 6420/10. Longs need stops below 6385.
2 important resistance areas at 6550/60 and 6580/90, Shorts need stops above 6610.
TRENDS
- Weekly Outlook Negative
- Daily Outlook Negative
- Short Term Outlook Neutral
AUD Chart