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

Jason Sen DayTradeIdeas.co.uk

AUDUSD shorts at 6640/60 worked perfectly as we hit the first target of 6610. Outlook neutral/negative.

NZDUSD shorts at 6205/15 work as we top at 6228.

Daily Analysis

AUDUSD we can try a short again at 6640/60, with stops above 6680. A break higher (& weekly close above for confirmation) 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. But longs are risky. 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 (& weekly close above for confirmation) 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

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