AUD/USD: A break above 0.6680 is an important medium-term buy signal

Jason Sen DayTradeIdeas.co.uk

AUD/USD _ NZD/USD

AUDUSD shorts at 6630/50 worked perfectly on the collapse from 6679 to first support at 6575/70 & we bottomed exactly here for an easy 60-70 pips profit.

NZDUSD short at 6205/15 with stops above 6230 hopefully worked on the collapse from 6231 to first support at 6155/50. We bottomed exactly here.

Daily Analysis

AUDUSD we can try a short again at 6640/60, with stops above 6680. A break higher is an important medium term buy signal initially targeting 6700/05, 6730/35 & 6765/75.

Shorts at 6640/60 target 6610 with first support again at 6575/70. Longs need stops below 6555. A break lower targets a buying opportunity at 6520/10, with stops below 6500.

NZDUSD try shorts again at 6205/15 with stops above 6230, targeting 6180 & first support at 6155/50 for profit taking again today. Longs need stops below 6140. Next downside target & buying opportunity at 6115/05 with stops below 6090.

A break above 6230 is an unexpected buy signal targeting 6260/70 & a selling opportunity at 6305/15.

Trends

Weekly outlook is negative.

Daily outlook is neutral.

Short Term outlook is neutral.

Author

Jason Sen

DayTradeIdeas.co.uk

Jason Sen began his career in the options pits on the trading floor of LIFFE in 1987 at the age of 19, making markets on his own account. In 2001 when the trading floor closed he successfully made the transition to day trading on computer screens.

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