AUD/USD: selling opportunity at 6875/80

Jason Sen DayTradeIdeas.co.uk

AUD/USD unexpectedly shot higher with shorts at 6775/80 stopped above 6790. We topped exactly at the next target of 6820/25

NZD/USD we wrote: Be ready to buy a break above 6440 targeting 6460/65. A break above 6470 is buy signal targeting 6485/90...

If you managed to buy the breakout there was over 50 pips potential profit.

Daily Analysis

AUD/USD tests strong resistance at 6820/25. Shorts need stops above 6840. A break higher is a buy signal targeting 6865 & selling opportunity at 6875/80, with stops above 6895.

Shorts at 6820/25 target 6805 & first support at 6795/85. A low for the day likely but a break below 6770 retests 6760/50.

NZD/USD now severely overbought as we reach 6485/90 & 6510 before important 13 month trend line resistance at 6530/35. Try shorts with stops above 6550.

Minor support at 6484/80 then strong support at 6475/65. Try longs with stops below 6450.

Trends

Weekly outlook is negative.

Daily outlook is neutral.

Short Term outlook is negative.

Author

Jason Sen

DayTradeIdeas.co.uk

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