AUDUSD has been trading up one day, down the next day in the sideways trend for 6 weeks. The pair has held a range of just 150 pips in this period. Quite unbelievable!

Yesterday we recovered Tuesday’s losses holding first resistance at 7740/50. Not unexpected!

NZDUSD also recovers Tuesday’s losses – holding above 7200 targets 7240/45. AUDJPY remains in a sideways trend for 2 months in a range of only 200 pips for the last 5 weeks.

Daily analysis

AUDUSD holding first support at 7710/00 retests first resistance at 7740/50. A break higher targets 7780/90.

Below 7700 risks a retest of 7675/70 with support at 7630/20. Longs need stops below 7610.

NZDUSD holding above 7200 targets 7240/45 before a retest of 7275/85. Very strong resistance at 7300/10.

Holding below 7190 risks a slide to 7155/45, perhaps as far as 7115/10.

AUDJPY holding below 500 week plus 200 & 100 month moving average resistance at 8440/70 is negative for this week. Yesterday we collapsed from 8480. First support at 8395/85 (we bottomed here this week) but below 8375 targets 8355/45, perhaps as far as support at 8310/00.

Key resistance at 8440/70. Shorts need stops above 8510. A break higher this week targets the March high at 8534/45.




The contents of our reports are intended to be understood by professional users who are fully aware of the inherent risks in Forex, Futures, Options, Stocks and Bonds trading. INFORMATION PROVIDED WITHIN THIS MATERIAL SHOULD NOT BE CONSTRUED AS ADVICE AND IS PROVIDED FOR INFORMATION AND EDUCATION PURPOSES ONLY.

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