AUD/USD _ NZD/USD
AUDUSD retests important support at the 2019 low of 6680/70 & holds just 14 pips below.
NZDUSD we wrote: shorts below 6450 work after the sell signal targeting 6415/10. A break below 6400 then the next sell signal as we look for 6375/65...
All targets hit again.
AUDUSD retests support at the 2019 low of 6680/70. Obviously this is the only level that matters this week. A sustained break below 6650 is a sell signal in the 2 year bear trend initially targeting 6620/10. Below 6600 look for 6565/55 & 6535/25.
If bulls are to engineer a recovery, this is their best chance for a while. Longs are always risky in a bear trend but if a bounce is seen, we target first resistance at 6705/10. Above 6720 targets strong resistance at 6735/45. Shorts need stops above 6760.
NZDUSD slower again in the bear trend as predicted, hitting next target of 6375/65 as we look for 6340/35, perhaps as far as minor support at 6320.
Gains are likely to be limited in the bear trend with minor resistance at 6400/10 but above 6420 allows a recovery to towards a selling opportunity at 6440/50, with stops above 6460.
Outlook is negative.
Daily outlook is negative.
Short Term outlook is negative.
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