AUD/USD: Be ready to buy a break above 0.6975
|AUD/USD – NZD/USD
AUDUSD held 6940/30 to retest resistance at 6975/85 but this is no longer resistance this morning & we could continue higher to resistance at 7000/10. However be ready to buy a break above 7015.
NZDUSD holding the June recovery high at 6579/83 & also first support at 6535/25 perfectly again yesterday for another 45 pip scalping opportunity.
Daily Analysis
AUDUSD topped exactly at 6975/85 yesterday but looks likely to continue higher to first resistance at 7000/10. Shorts need stops above 7015, so it is a small risk. Be ready to buy a break above here targeting 7040 & the June recovery high at 7055/60 for profit taking.
Unlikely, but holding 6985 targets 6960/50, perhaps as far as 6930/20. Expect strong support at 6910/00. Stop below 6880. A break lower is a sell signal with 6900/6910 than acting as resistance, targeting 6840/30, perhaps as far as 6810/00.
NZDUSD holding support at 6535/25 & also the June recovery high at 6579/83, so we watch these levels again today. A break higher is another buy signal targeting 6615/20, 6630 & perhaps as far as a selling opportunity at 6660/70.
First support at 6540/30 but below 6615 targets better support at 6485/75. Stop below 6460. A buying opportunity at 6430/20, with stops below 6400.
| Trading levels. | Target. | |
| AUDUSD | strong support at 6910/00. Stop below 6880 | 6930, 6970 |
| NZDUSD | Buy 6485/75. Stop below 6460 | 6525 |
| NZDUSD | buying opportunity at 6430/20, with stops below 6400. | 6470, 6520 |
| USDJPY | selling opportunity at 108.35/45 stops above 108.65 | 108.10, 107.75 |
| EURJPY | strong resistance at 121.90/122.10 & again at 122.70/80 | 121.60, 121.20 |
| EURJPY | buying opportunity at 120.65/55, with stops below 120.40. | 120.80, 121.10 |
| Gold | Outlook positive remains on the break above 1800 |
Trends
Weekly outlook is positive.
Daily outlook is neutral.
Short Term outlook is neutral.
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.