AUD/USD: Shorts at 0.6080 target 0.6035

Jason Sen DayTradeIdeas.co.uk

AUD/USD _ NZD/USD

AUDUSD we wrote: bulls need to hold 5900/5880 to maintain the short term recovery. Holding above 5940 is more positive targeting 5975/80 & 6020/25 before a retest of 6072. Try shorts at 6080/6100 with stops above 6140.

Perfect call! Longs at 5900/5880 hit every target for a potential 200 pips as we topped exactly at our selling opportunity at 6080/6100.

NZDUSD we wrote: holding minor support at 5790/5770 (& break above 5825) gives me hope of a bounce back towards our selling opportunity at 5915/35 with stops above 5970.

Longs at 5790/5770 made a potential 125 pips but the shorts at 5915/35 gave back 50 pips when stops were activated.

Reports will be updated around lunch time GMT if necessary.

Daily Analysis

AUDUSD shorts at 6080/6100 target 6035/30 (hit) & minor support at 6010/00. Outlook negative in the bears trend with further losses targeting 5980/75 & best support for today at 5960/40. Longs need stops below 5910.

Shorts at 6080/6100 stop above 6140. An unexpected break higher targets 6190/6210 & 6250/70.

NZDUSD over ran our selling opportunity at 5915/35 by 50 pips but I still think it is likely we will reverse today targeting 5915/05 & perhaps as far as support at 5870/60. Expect support at 5810/5800 for profit taking on any remaining shorts.

I would still try a short around 5950/80 with stops above 6000. If I am wrong & we break higher look for 6030/40, 6080/90 & perhaps as far as 6140/60.

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Trends

Weekly outlook is negative

Daily outlook is negative

Short Term outlook is positive

Author

Jason Sen

DayTradeIdeas.co.uk

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