AUDUSD: Longs need stops below 0.6080

AUDUSD: Longs need stops below 0.6080

AUD/USD _ NZD/USD

AUDUSD reversed from resistance at 6190/6210 & if you were short here there was an easy 90 pips on the dip to first support at 6100/90. In fact longs here worked too on the bounce to 6157.

NZDUSD we wrote: Holding key resistance at 6035/45 targets 6010/6000, 5965/55, perhaps as far as best support at 5930/20 for profit taking on shorts.

Perfect call! We topped exactly at 6035/45 with shorts handed an easy 100 pips as we bottomed exactly at best support at 5930/20. Longs here given another 50 pips on the bounce.

Reports will be updated around lunch time GMT if necessary.

 

Daily Analysis

AUDUSD key support at 6100/90 but longs need stops below 6080. Below here reverse in to shorts targeting 6050/40, 6020 & strong support at 5990/70 for profit taking on shorts.

Longs at key support at 6100/90 target 6150/60 then strong resistance at 6190/6210 for profit taking. Shorts stop above 6225. A break higher is a buy signal targeting 6250/70, 6290/6300 & perhaps as far as 6325.

NZDUSD minor resistance at 5965/75 but above here targets key resistance at 6035/45. Stop & reverse in to longs above 6070 targeting 6090/6100 & 6140/60 with a selling opportunity at 6190/6210.

Holding minor resistance at 5965/75 tests minor support at 5930/20 but be ready to sell a break below 5900 targeting 5865/60 & support at 5845/35 for profit taking on shorts.

 

Trends

Weekly outlook is negative. 

Daily outlook is negative. 

Short Term outlook is positive.



Source: FxStreet

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