AUD/USD: The outlook remains negative as long as it holds below 0.7095

Jason Sen DayTradeIdeas.co.uk

AUD/USD – NZD/USD

AUDUSD topped exactly at first resistance at 7165/75 & headed lower as expected to all targets as far as 7110/00 but continued lower to 7055.

NZDUSD shorts at 6670/80 worked perfectly as we hit our buying opportunity at 6580/70 & bottomed exactly here for a 90 pip profit.

Daiy Analysis

AUDUSD outlook remains negative as long as we hold below first resistance at 7095/7105. A break below 7050 targets 7035/30 & the September low at 7010/04.

A break above 7105 meets a selling opportunity at 7140/50 with stops above 7165.

NZDUSD longs at the buying opportunity at 6580/70 meets first resistance at 6620/30. A break above 6640 retests 2 week trend line resistance at 6680/90. Shorts need stops above 6700.

A buying opportunity at 6580/70 with stops below 6560. A break lower targets the head & shoulders neckline at 6530/20. A break below 6510 is an important longer term sell signal.

Chart

Author

Jason Sen

DayTradeIdeas.co.uk

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