AUD/USD: Selling opportunity at 0.6970
|AUD/USD _ NZD/USD
AUDUSD now using 6885/95 as strong support to top exactly at the next target of 6950/60.
NZDUSD shorts at the selling opportunity at 6525/35 offered up to 30 pips profit more on Friday.
Daily Analysis
AUDUSD holding first support at 6905/6895 targets 6950, then a selling opportunity at 6970/80 today, with stops above 6990. A break higher is a buy signal targeting 7010, 7030, 7040 & perhaps as far as the June high at 7060.
Longs at support at 6905/6895 need stops below 6885 for a test of 2 week trend line support at 6850/40. A break lower meets a buying opportunity at 6810/00, with stops below 6775.
NZDUSD shorts at the selling opportunity at 6525/35 worked perfectly with a 25-35 pip profit offered. Shorts need stops above 6550. A break higher retests the June recovery high at 6579/83. A weekly close above is another buy signal.
Shorts at 6525/35 target 6505/00, 6485, perhaps as far as first support at 6460/50. Try longs with stops below 6435. A break lower targets 6390/80, with minor support at 6365/55.
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.