AUD/USD: A break below 0.7260 targets 0.7230

Jason Sen DayTradeIdeas.co.uk

AUD/USD – NZD/USD

AUDUSD holding the November high at 7335/40 all this week. Yesterday we held 7260/50.

NZDUSD shot higher to the next target of 6945 & topped exactly here this week.

Daily Analysis

AUDUSD holding below 7285/95 tests first support at 7260/50. A break lower targets 7230, perhaps as far as strong support at 7210/00 for profit taking on shorts. Try longs with stops below 7180.

First resistance at the November double top high at 7335/40. A break higher targets 7360/80, perhaps as far as the September recovery high at 7408/13.

NZDUSD hits the next target of 6940/45 & if we continue higher look for 6965/70.

Best support at 6870/60 held yesterday with a low just 7 pips above. Longs need stops below 6850. Next target & support at 6815/05. Try longs with stops below 6790.

Chart

Author

Jason Sen

DayTradeIdeas.co.uk

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