AUD/USD: Buying opportunity at 0.7690

Jason Sen DayTradeIdeas.co.uk

AUD/USD – NZD/USD

AUDUSD tests first support at 7740/30 & holds above 7720 in another quiet session.

NZDUSD reversed just 9 pips above first resistance at 7720/30.

Daily Analysis

AUDUSD longs at first support at 7740/30 target 7775/85. Resistance at the 7810/20high is obviously key to direction. A break higher is a buy signal targeting 7835/40 &7870/75, perhaps as far as 7895/99.

First support at 7740/30 but below 7720 meets a buying opportunity at 7690/80 withstops below 7660. A break lower is a sell signal (try to sell a bounce to 7670/80)targeting 7630/20.

NZDUSD holding below 7195/7205 risks a slide to 7160/55. A buying opportunity at7130/20 with stops below 7105.

First resistance again at 7220/30. Be ready to buy a break above 7245 for a test of 5year trend line resistance at 7270/80. Watch for a high for the day. Minor resistanceat 7305/15 highs. Strong resistance at the 500 week moving average at 7335/45

Chart

Author

Jason Sen

DayTradeIdeas.co.uk

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