AUD/USD: Watch for a high for the day if tested
|AUD/USD, NZD/USD, AUD/JPY
AUDUSD up one day, down the next day in the sideways trend (exactly like the 3week period from end of March to the beginning of April). We retest the best support 7715/05.
NZDUSD also in an ”up one day, down the next day” trend as we retest first support 7170/60, but overran to 7143.
AUDJPY remains in a 2 month sideways trend. Holding below the 500 weeks moving average at 8440/50 should be negative but the pair do not want to move significantly in any direction at this stage.
Daily analysis
AUDUSD retests best support at 7715/05 (we bottomed exactly at) with another bounce to test minor resistance at 7745/55. Above 7765 look for 7785/90 before resistance at 7815/25. Watch for a high for the day if tested.
Best support again at 7715/05 today. Longs need stops below 7685. A break lower targets 7675 & minor support at 7660/50.
NZDUSD first support at 7160/50. A bounce targets 7190 with strong resistance against 7210/20. Shorts need stops above 7230. A break higher targets 7245/50 &7260/70 with resistance at 7285/90.
First support at 7160/40 but below 7140 targets 7125/15. Further losses target 7090/7080.
AUDJPY bottomed exactly at first support at 8320/00 for the second day. The pair remains in an erratic sideways trend. A break lower risks a slide to support at8240/30. Longs need stops below 8215.
We topped exactly at first resistance at 8380/90 again yesterday. Above 8400 allows further recovery to 8435/45.
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.