AUD/USD we wrote: Above 6410 retests important 4 month trend line resistance at 6435/45; stops above 6465.
Shorts here were stopped for a more positive outlook for today targeting a selling opportunity at 6500/10.
NZD/USD we wrote: holding first support at 5990/80 (low was 5991, although it was probably too early to have allowed us to buy here) targets 6030/40 perhaps as far as resistance at 6050/55. Shorts need stops above 6070.
This was a little frustrating because we topped at 6075...I like to be pinpoint accurate...but if you managed to hold shorts the pair collapsed to 6017.
AUD/USD holding first support at 6450/40 targets a selling opportunity at 6500/10 (swing trade opportunity – we could head significantly lower from here) with stops above 6540.
I think the downside is limited for today but below 6435 risks a slide to 6420/10. If we fall as far as 6390/80, try longs with stops below 6360.
NZD/USD holding first support at 6010/00 allows a recovery to 6030/40 perhaps as far as resistance at 6060/70. Shorts need stops above 6090. A break higher is a buy signal targeting 6105/10 and 6125/30.
Longs at 6110/00 stop below 5990. A break lower is a sell signal targeting 5955/45, perhaps as far as strong support at 5900/5890.
Trends
Weekly outlook is negative
Daily outlook is neutral
Short Term outlook is positive
