AUD/USD – NZD/USD
AUDUSD held 6940/30 to retest resistance at 6975/85 but this is no longer resistance this morning & we could continue higher to resistance at 7000/10. However be ready to buy a break above 7015.
NZDUSD holding the June recovery high at 6579/83 & also first support at 6535/25 perfectly again yesterday for another 45 pip scalping opportunity.
Daily Analysis
AUDUSD topped exactly at 6975/85 yesterday but looks likely to continue higher to first resistance at 7000/10. Shorts need stops above 7015, so it is a small risk. Be ready to buy a break above here targeting 7040 & the June recovery high at 7055/60 for profit taking.
Unlikely, but holding 6985 targets 6960/50, perhaps as far as 6930/20. Expect strong support at 6910/00. Stop below 6880. A break lower is a sell signal with 6900/6910 than acting as resistance, targeting 6840/30, perhaps as far as 6810/00.
NZDUSD holding support at 6535/25 & also the June recovery high at 6579/83, so we watch these levels again today. A break higher is another buy signal targeting 6615/20, 6630 & perhaps as far as a selling opportunity at 6660/70.
First support at 6540/30 but below 6615 targets better support at 6485/75. Stop below 6460. A buying opportunity at 6430/20, with stops below 6400.
Trading levels. | Target. | |
AUDUSD | strong support at 6910/00. Stop below 6880 | 6930, 6970 |
NZDUSD | Buy 6485/75. Stop below 6460 | 6525 |
NZDUSD | buying opportunity at 6430/20, with stops below 6400. | 6470, 6520 |
USDJPY | selling opportunity at 108.35/45 stops above 108.65 | 108.10, 107.75 |
EURJPY | strong resistance at 121.90/122.10 & again at 122.70/80 | 121.60, 121.20 |
EURJPY | buying opportunity at 120.65/55, with stops below 120.40. | 120.80, 121.10 |
Gold | Outlook positive remains on the break above 1800 |
Trends
Weekly outlook is positive.
Daily outlook is neutral.
Short Term outlook is neutral.
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.
Recommended Content
Editors’ Picks
AUD/USD holds above 0.6500 in thin trading
The Australian Dollar managed to recover ground against its American rival after AUD/USD fell to 0.6484. The upbeat tone of Wall Street underpinned the Aussie despite broad US Dollar strength and tepid Australian data.
EUR/USD comfortable below 1.0800 lower lows at sight
The EUR/USD pair lost ground on Thursday and settled near a fresh March low of 1.0774. Strong US data and hawkish Fed speakers comments lead the way ahead of the release of the US PCE Price Index on Friday.
Gold price finishes Thursday’s session set to reach new all-time highs
Gold price rallied during the North American session on Thursday and hit a new all-time high of $2,225 in the mid-North American session. Precious metal prices are trending higher even though US Treasury yields are advancing, underpinning the Greenback.
Bitcoin price extends retreat from $69K as old whales shift their holdings to new whales
Bitcoin price continues to move further away from the $69,000 threshold, gaining ground as BTC bulls hope for a retest of the $73,777 peak. This is because of the general assumption that clearing this blockade would set the tone for a reach higher, marking a new all-time high.
Bears have been standing before a steamroller so far this year
Despite a pushback on rate cuts from Christopher Waller, and what was supposed to be cautious trading sentiment ahead of critical US inflation data released later on Friday, the S&P 500 rose on Thursday, marking its best first-quarter performance in five years.