AUDUSD breaks strong support at 7170/60 targeting 7140/35, perhaps as far as 7110/00.

NZDUSD topped exactly at first resistance at the 1 week trend line at 6670/80. Shorts are working.

Outlook is negative for both the pairs & we wait to see if NZDUSD breaks the head & shoulders neckline at 6525/20 for a medium term sell signal.

Daily Analysis

AUDUSD holding below 7170 targets 7140/35, perhaps as far as 7110/00.

First resistance at 7165/75. Shorts need stops above 7190. Next resistance at 7210/20. Shorts need stops above 7245. A break higher targets 7280/85, perhaps as far as 7320/30.

NZDUSD meets first resistance at the 1 week trend line at 6670/80. Shorts need stops above 6690. A break higher targets 6705 & 6730/40.

Our shorts at 6670/80 target first support at 6630/20. A break below 6610 targets a buying opportunity at 6580/70 with stops below 6560.




The contents of our reports are intended to be understood by professional users who are fully aware of the inherent risks in Forex, Futures, Options, Stocks and Bonds trading. INFORMATION PROVIDED WITHIN THIS MATERIAL SHOULD NOT BE CONSTRUED AS ADVICE AND IS PROVIDED FOR INFORMATION AND EDUCATION PURPOSES ONLY.

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