AUDUSD shorts at strong resistance at 6740/45 worked perfectly. We topped exactly here with a 40 pip profit offered already, as we bottomed exactly at the first target of minor support at 6710/05.

NZDUSD we warned of resistance at 6465/75 & further strong resistance at 6500/05. We topped exactly in between these levels. Shorts offered over 50 pips profit already.


Daily Analysis

AUDUSD shorts at strong resistance at 6735/45 target minor support at 6710/05. As I write we bottomed exactly here but further losses look likely to retest support at the 2019 low of 6680/70. Obviously this is the only level that matters this week. A sustained break below 6650 is a sell signal in the 2 year bear trend initially targeting 6620/10. Below 6600 look for 6565/55 & 6535/25.

Shorts at strong resistance at 6740/45 today need stops above 6755. A break higher targets 6765/69 & resistance at 6795/6800.

NZDUSD rejects yesterday's resistance levels to target minor support at 6440/35 & 6420/15. Below 6410 look for 6390 before a retest of 6375/65. A break lower targets 6340/35, perhaps as far as minor support at 6320.

Watch for strong resistance at 6465/75. Shorts need stops above 6500. Be ready to buy a break above 6505 for 6520/25 & 6560/65.



Weekly outlook is negative.

Daily outlook is negative.

Short Term outlook is negative.

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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