AUD/USD very oversold on the daily chart but no buy signal so longs are too risky.

NZDU/SD trades sideways in just a 45 pip range for 2 weeks. Last week's range was just 17 pips.

AUD/USD edges lower in the bear trend to 6751. Further losses target 6740 & 6725/20, perhaps as far as 6705/00.
Try shorts at 6775/80 with stops above 6790. A break higher targets 6820/25.

NZD/USD first resistance at 6434/38. Be ready to buy a break above 6440 targeting 6460/65. A break above 6470 is buy signal targeting 6485/90 & important 13 month trend line resistance at 6530/35.
First support at 6390/80 but longs need stops below 6360. A break lower is a sell signal targeting the November low at 6320/15. A break lower targets 6305/00, 6290/85 & perhaps as far as 6265/60.

 

Trends

Weekly outlook is negative

Daily outlook is neutral

Short Term outlook is negative.

The contents of our reports are intended to be understood by professional users who are fully aware of the inherent risks in Forex, Futures, Options, Stocks and Bonds trading. INFORMATION PROVIDED WITHIN THIS MATERIAL SHOULD NOT BE CONSTRUED AS ADVICE AND IS PROVIDED FOR INFORMATION AND EDUCATION PURPOSES ONLY.

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