AUD/USD holding above 6890 meets strong resistance at 6920/30
|AUD/USD – NZD/USD
AUD/USD did not make it as far as support at 6830/20 before a recovery through resistance at 6880/90. Strong resistance at 6920/30 the main challenge for bulls today today.
NZD/SD recovers to first resistance at 6645/55 & topped exactly here.
Daily Analysis
AUD/USD holding above 6890 meets strong resistance at 6920/30. Try shorts with stops above 6940. A break higher is a short term buy signal targeting 6960, perhaps as far as 6995/99.
Minor support at 6890/80 before the correction low at 6846 last week. Better support at 6830/20 this week. Longs need stops below 6805 for the next sell signal targeting 6985/90 & 6920/25.
NZD/USD holding first resistance at 6645/55 perfectly but above 6665 opens the door to 6675 & 6685/90. Expect strong resistance at 6715/25. Try shorts with stops above 6755.
Shorts at 6645/55 target 6625/20. Below 6615 meets very minor support at 6595/90. Further losses look likely for 6580 then strong support at 6545/35. Longs need stops below 6515.
Trends
Weekly outlook is neutral.
Daily outlook is neutral.
Short Term outlook is negative.
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.