NZD/USD: A break above 0.6150 is a buy signal

Jason Sen DayTradeIdeas.co.uk

AUD/USD – NZD/USD

AUDUSD shorts at 6500/10 stopped above 6535, but we did return to 6510/00 for a buying opportunity before reaching 6458, almost as far as the 100 day moving average at 6565/75 for a small net profit on the day.

NZDUSD we wrote: holding above 6060/70 is a buy signal targeting 6105/10 & first resistance at 6125/30. Shorts need stops above 6145.

We rallied from 6049 to 6125/30 & topped at 6143.

Daily Analysis

AUDUSD holding strong support at 6510/00 re-targets 6535/40 with strong resistance at the 100 day moving average at 6560/65. Shorts need stops above 6580. A break higher meets a selling opportunity at 6630/50, with stops above 6690.

Longs at 6510/00 need stops below 6485 for a test of support at 6450/45.

NZDUSD breaking above 6150 is a buy signal targeting 6180/90 & a selling opportunity at 6200/10 with stops above 6235.

Holding strong resistance at 6130/40 targets 6110/05 with first support at 6090/80. Try longs at 6055/45 with stops below 6030.

Trends

Weekly outlook is negative.

Daily outlook is neutral.

Short Term outlook is positive.

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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