AUD/USD: Selling opportunity at 0.7250/60

Jason Sen DayTradeIdeas.co.uk

AUD/USD – NZD/USD

AUDUSD we wrote: Outlook remains negative after we rejected 200 week moving average resistance...& holding first resistance at 7190/7200 re-targets 7170 then 7145/35.

Shorts at 7190/7200 worked perfectly!

NZDUSD shorts at strong resistance at 6550/60 worked perfectly.

Outlook remains negative for the pairs.

Daily Analysis

AUDUSD outlook negative & holding first resistance at 7190/7200 re-targets 7170 then 7145/35. (& pip away yesterday). A break lower this time meets minor support at 7115/10 for some profit taking on shorts perhaps but longs are probably too risky.

Shorts at 7190/7200 need stops above 7225. Obviously there's a selling opportunity at 7250/60, with stops above 7280.

NZDUSD shorts at 6550/60 target 6520/10 (hit & we bottomed exactly here) with minor support at 6480/70. Further losses meet strong support at 6420/10. Longs need stops below 6385.

2 important resistance areas at 6550/60 & 6580/90, Shorts need stops above 6610.

Trends
Weekly Outlook	Negative
Daily Outlook	Negative
Short Term Outlook	Neutral

Chart

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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