AUD/USD: Shorts need stops above 7775

Jason Sen DayTradeIdeas.co.uk

AUD/USD, NZD/USD, AUD/JPY

AUDUSD topped exactly at important 100 month moving average resistance at 7745/55 every day this week for a scalping opportunity to our target 7720/10.

NZDUSD shorts at first resistance at 7225/35 worked perfectly this week as we dip to the first target & minor support at 7180/70.

AUDJPY best support at 8460/40.

Daily analysis

AUDUSD topped exactly at important 100 month moving average resistance at 7745/55 again yesterday. Shorts need stops above 7775. A break higher is a buy signal targeting 7800/10. Above 7820 opens the door the May high at 7880/90.

Shorts at important 100 month moving average resistance at 7745/55 retarget 7720/10 (we bottomed exactly here), perhaps as far as the May low at 7685/75 before a retest of last week’s low at 7643. A break lower to this week targets 7625/20.

NZDUSD shorts at first resistance at 7225/35 need stops above 7245. A break higher tests important 500 week moving average resistance at 7295/7305.

Our shorts target minor support at 7180/70 (hit) then last week’s low at 7130/25. Further losses this time target 7090/80.

AUDJPY best support at 8460/40. Holding above here targets 8480 & 2 week highs at 8510/20. A break higher this week targets the 2021 high at 8570/80.

Longs at 8460/40 stop below 8430. A break lower to targets the May low at 8400/8395. A break below here is a sell signal for today targeting the 100 day moving average at 8335/25.

Chart

Author

Jason Sen

DayTradeIdeas.co.uk

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