AUDUSD now using 6885/95 as strong support to top exactly at the next target of 6950/60.

NZDUSD shorts at the selling opportunity at 6525/35 offered up to 30 pips profit more on Friday.



Daily Analysis

AUDUSD holding first support at 6905/6895 targets 6950, then a selling opportunity at 6970/80 today, with stops above 6990. A break higher is a buy signal targeting 7010, 7030, 7040 & perhaps as far as the June high at 7060.

Longs at support at 6905/6895 need stops below 6885 for a test of 2 week trend line support at 6850/40. A break lower meets a buying opportunity at 6810/00, with stops below 6775.

NZDUSD shorts at the selling opportunity at 6525/35 worked perfectly with a 25-35 pip profit offered. Shorts need stops above 6550. A break higher retests the June recovery high at 6579/83. A weekly close above is another buy signal.

Shorts at 6525/35 target 6505/00, 6485, perhaps as far as first support at 6460/50. Try longs with stops below 6435. A break lower targets 6390/80, with minor support at 6365/55.



Weekly outlook is positive.

Daily outlook is neutral.

Short Term outlook is neutral.


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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