AUD/USD _ NZD/USD
AUDUSD beat 6130 for a buy signal, hitting our target & minor resistance at the 6210/13 recovery high. We topped exactly here so of course this is key to direction.
NZDUSD bounced just 2 pips above first support at 5915/05 & shot higher through 5960 for a buy signal targeting 5980/85 then 6010/20. We topped exactly here.
Daily Analysis
AUDUSD strong support at 6100/6080. Longs need stops below 6040. A break lower is a sell signal targeting 6010/00 & 5985/80.
First resistance at the 6210/13 recovery high. A break higher is a buy signal targeting 6240/45 & 6290/6300.
NZDUSD key support at 5940/30. Longs here target 5965, 5980/85 then 6010/20. On further gains look for 6035 before a retest of resistance at the 6065/70 recovery high.
Longs at at 5940/30 stop below 5920. A break lower is a sell signal targeting 5895, 5870/60 & perhaps as far as support at 5845/40 for profit taking on any remaining shorts.
Trends
Weekly outlook is negative.
Daily outlook is neutral.
Short Term outlook is positive.
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.
Recommended Content
Editors’ Picks
EUR/USD consolidates weekly gains above 1.1150
EUR/USD moves up and down in a narrow channel slightly above 1.1150 on Friday. In the absence of high-tier macroeconomic data releases, comments from central bank officials and the risk mood could drive the pair's action heading into the weekend.
GBP/USD stabilizes near 1.3300, looks to post strong weekly gains
GBP/USD trades modestly higher on the day near 1.3300, supported by the upbeat UK Retail Sales data for August. The pair remains on track to end the week, which featured Fed and BoE policy decisions, with strong gains.
Gold extends rally to new record-high above $2,610
Gold (XAU/USD) preserves its bullish momentum and trades at a new all-time high above $2,610 on Friday. Heightened expectations that global central banks will follow the Fed in easing policy and slashing rates lift XAU/USD.
Week ahead – SNB to cut again, RBA to stand pat, PCE inflation also on tap
SNB is expected to ease for third time; might cut by 50bps. RBA to hold rates but could turn less hawkish as CPI falls. After inaugural Fed cut, attention turns to PCE inflation.
Bank of Japan set to keep rates on hold after July’s hike shocked markets
The Bank of Japan is expected to keep its short-term interest rate target between 0.15% and 0.25% on Friday, following the conclusion of its two-day monetary policy review. The decision is set to be announced during the early Asian session.
Moneta Markets review 2024: All you need to know
VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.