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

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