AUD/USD: longs need stops below 0.6080

Jason Sen DayTradeIdeas.co.uk

AUD/USD _ NZD/USD

AUDUSD reversed from resistance at 6190/6210 & if you were short here there was an easy 90 pips on the dip to first support at 6100/90. In fact longs here worked too on the bounce to 6157.

NZDUSD we wrote: Holding key resistance at 6035/45 targets 6010/6000, 5965/55, perhaps as far as best support at 5930/20 for profit taking on shorts.

Perfect call! We topped exactly at 6035/45 with shorts handed an easy 100 pips as we bottomed exactly at best support at 5930/20. Longs here given another 50 pips on the bounce.

Reports will be updated around lunch time GMT if necessary.

Daily Analysis

AUDUSD key support at 6100/90 but longs need stops below 6080. Below here reverse in to shorts targeting 6050/40, 6020 & strong support at 5990/70 for profit taking on shorts.

Longs at key support at 6100/90 target 6150/60 then strong resistance at 6190/6210 for profit taking. Shorts stop above 6225. A break higher is a buy signal targeting 6250/70, 6290/6300 & perhaps as far as 6325.

NZDUSD minor resistance at 5965/75 but above here targets key resistance at 6035/45. Stop & reverse in to longs above 6070 targeting 6090/6100 & 6140/60 with a selling opportunity at 6190/6210.

Holding minor resistance at 5965/75 tests minor support at 5930/20 but be ready to sell a break below 5900 targeting 5865/60 & support at 5845/35 for profit taking on shorts.

Trends

Weekly outlook is negative.

Daily outlook is negative.

Short Term outlook is positive.

Author

Jason Sen

DayTradeIdeas.co.uk

Jason Sen began his career in the options pits on the trading floor of LIFFE in 1987 at the age of 19, making markets on his own account. In 2001 when the trading floor closed he successfully made the transition to day trading on computer screens.

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