AUD/USD: Buying opportunity at 7140

Jason Sen DayTradeIdeas.co.uk

AUD/USD – NZD/USD

AUDUSD hits the best support for the day at 7260/50 but unfortunately over an as far as 7220 before the expected bounce, hitting the target of 7290/7300.

NZDUSD topped exactly at strong resistance at 6785/95 & bottomed exactly at important support at 6675/65 as predicted offering up to 110 + 60 easy, stress-free pips profit last week.

Daily Analysis

AUDUSD managed a bounce to 7290/7300, perhaps as far as resistance at 7340/45 today. I do not have a high conviction for trading levels today so a wait & see approach may be best. If we continue higher look for 7290/85 before a retest of resistance at 7405/15 highs.

2 month trend line support at 7230/20 worked on Friday. Longs need stops below 7210 for a sell signal targeting 7195/90 then a buying opportunity at 7140/30, with stops below 7115.

NZDUSD longs at 6675/65 worked perfectly on the bounce to 6700 & almost as far as 6740/45. This is today's first resistance but of course the best selling opportunity is at 6785/95. I'm looking for a double top sell signal here. Stop above 6815. A break higher is a buy signal for this week.

Author

Jason Sen

DayTradeIdeas.co.uk

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