AUD/USD: Buying opportunity at 0.6910

Jason Sen DayTradeIdeas.co.uk

AUD/USD – NZD/USD

AUDUSD reversed from just below last week's high at 7000/10 to target 6940/30 then a buying opportunity at 6910/00.

NZDUSD we wrote: overbought so could start to trade in a more sideways direction. We held the sideways trend, breaking support at 6555/45, stop below 6535 activated, targeting a buying opportunity at 6500/6490.

	Scalping levels.	Target.
AUDUSD	buying opportunity at 6910/00. Stop below 6885	6930, 6970
NZDUSD	buying opportunity at 6500/6490, with stops below 6480
NZDUSD	selling opportunity at 6660/70.
EURUSD	Unable to sustain a move in 1 direction for more than a day
EURUSD	Best support at 1.1275/65. Longs need stops below 1.1245	1.1310,1.1335
EURUSD	A break lower is a sell signal
USDJPY	selling opportunity at 107.50/60, with stops above 107.75	107.00, 106.70.
Gold	buying opportunity again at 1796/94, stops below 1791
Gold	buying opportunity at 1784/82. Try longs with stops below 1778.

Daily Analysis

AUDUSD holding below minor resistance at 6960/70 targets 6940/30 then a buying opportunity at 6910/00. Stop below 6885. A break lower is a sell signal with 6900/6910 then acting as resistance, targeting 6840/30, perhaps as far as 6810/00.

Minor resistance at 6960/70 before a retest of minor resistance at last week's high at 7000/10. Be ready to buy a break above here targeting 7040 & the June recovery high at 7055/60 for profit taking.

NZDUSD overbought so could start to trade in a more sideways direction, but we have no sell signal yet. Holding minor resistance at 6550/60 targets 6520 & buying opportunity at 6500/6490, with stops below 6480. A break lower is a sell signal initially targeting minor support at 6445/35.

Minor resistance at 6550/60 before resistance at recovery highs of 6590/6600. A break above 6600 targets 6615/20, 6630 & perhaps as far as a selling opportunity at 6660/70.

Trends

Weekly outlook is positive.

Daily outlook is neutral.

Short Term outlook is neutral.

Author

Jason Sen

DayTradeIdeas.co.uk

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