AUD/USD: A break above 0.7245 targets 0.7280
|AUD/USD – NZD/USD
AUDUSD breaks strong support at 7170/60 targeting 7140/35, perhaps as far as 7110/00.
NZDUSD topped exactly at first resistance at the 1 week trend line at 6670/80. Shorts are working.
Outlook is negative for both the pairs & we wait to see if NZDUSD breaks the head & shoulders neckline at 6525/20 for a medium term sell signal.
Daily Analysis
AUDUSD holding below 7170 targets 7140/35, perhaps as far as 7110/00.
First resistance at 7165/75. Shorts need stops above 7190. Next resistance at 7210/20. Shorts need stops above 7245. A break higher targets 7280/85, perhaps as far as 7320/30.
NZDUSD meets first resistance at the 1 week trend line at 6670/80. Shorts need stops above 6690. A break higher targets 6705 & 6730/40.
Our shorts at 6670/80 target first support at 6630/20. A break below 6610 targets a buying opportunity at 6580/70 with stops below 6560.
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