AUD/USD dipped a little but only as far as 7000

Jason Sen DayTradeIdeas.co.uk

AUD/USD – NZD/USD

AUDUSD trades mostly sideways for a month but with a slightly negative bias – so if we are to see a move I think it is more likely to be to the downside.

We could range from 6960/70 up to 7045/55.

NZDUSD bottomed exactly at strong support at 6600/6590. We could range from here up to first resistance at 6640/50 today.

Daily Analysis

AUDUSD dipped a little but only as far as 7000. A break lower targets 6975/65 then 6930/20. A buying opportunity at 6895/80 with stops below 6860.

It is worth selling in to strength with first resistance at 7055/60 but the best selling opportunity is at 7090/7100 with stops above 7110. Just be aware that a break higher meets strong resistance at 7135/40.

NZDUSD holding first resistance at 6640/50 retests strong support at 6600/6590. A break below 6570 meets mega important support at the head & shoulders neck line at 6530/20.

Shorts at first resistance at 6640/50 stop above 6670. A break higher targets 6690/6700 with strong resistance at 6715/25.

Chart

Author

Jason Sen

DayTradeIdeas.co.uk

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