AUD/USD bottomed exactly at better support at 6840/30

Jason Sen DayTradeIdeas.co.uk

AUD/USD held first resistance at 6890/6900 for a retest of the correction low at 6850/46 exactly as predicted & bottomed exactly at better support at 6840/30.

NZD/USD we wrote: holding below 6620/30 today is a sell signal for a retest of January lows at 6585/80.
Shorts at 6620/30 worked as we finally hit the 6585/80 target & bottomed exactly here

Daily Analysis

AUD/USD bottomed exactly at better support at 6840/30 & we are longs with stops below 6810. We can move those stops up to 6820. A break lower is the next sell signal targeting 6805 & 6785/90.

Longs at 6840/30 target 6850 & first resistance at 6870/80. Try shorts with stops above 6890.

NZD/USD holding January lows at 6585/80 but the outlook is quite negative & further losses target 6560/50, perhaps as far as 6530/20.

Try shorts again at 6620/30 with stops above 6640 to target 6655/60. Above 6665 opens the door to 6675 & 6685/90. Expect strong resistance at 6705/15

Trends

Weekly outlook is neutral.

Daily outlook is neutral.

Short Term outlook is negative.

Author

Jason Sen

DayTradeIdeas.co.uk

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