AUD/USD: A break below 0.7270 risks a slide to 0.7250
|AUD/USD – NZD/USD
AUDUSD going nowhere for 2 weeks, stuck in a range 90 pip range. NZDUSD bets on a double top at 6785/95 started to pay off by the close on Friday. My new chat room is live with a FREE TRIAL this week. Big winners all last week. I'll give you my trade ideas, show you how I identify my entry levels, my stops & targets. Places are obviously limited so sign up now.
Daily Analysis
AUDUSD outlook is unclear in the sideways trend. First support area is at 7300/7280 (which held on Friday). A break below 7270 risks a slide to 7250/40, perhaps as far as 7220/10.
Holding above 7300 allows a recovery to 7330/40 (we topped exactly here on Thursday & Friday), perhaps as far as 7365/75 before a retest of the September high at 7410/13.
NZDUSD worth betting on a double top at 6785/95. Shorts here target 6760/55 (hit on Friday) & 6725/15 before some short term support at 6670/60.
Shorts need stops above 6805. A break above here is a medium term buy signal initially targeting 6835/45 & 6875/85.
Chart
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.