AUD/USD And NZD/USD Forecast For Feb 11, 2020

AUD/USD retests important support at the 2019 low of 6680/70 and holds just 14 pips below.

NZD/USD we wrote: shorts below 6450 work after the sell signal targeting 6415/10. A break below 6400 then the next sell signal as we look for 6375/65…

All targets hit again.

AUD/USD retests support at the 2019 low of 6680/70. Obviously this is the only level that matters this week. A sustained break below 6650 is a sell signal in the 2 year bear trend initially targeting 6620/10. Below 6600 look for 6565/55 and 6535/25.

If bulls are to engineer a recovery, this is their best chance for a while. Longs are always risky in a bear trend but if a bounce is seen, we target first resistance at 6705/10. Above 6720 targets strong resistance at 6735/45. Shorts need stops above 6760.

NZD/USD slower again in the bear trend as predicted, hitting next target of 6375/65 as we look for 6340/35, perhaps as far as minor support at 6320.

Gains are likely to be limited in the bear trend with minor resistance at 6400/10 but above 6420 allows a recovery to towards a selling opportunity at 6440/50, with stops above 6460.

Trends

  • Weekly outlook is negative
  • Daily outlook is negative
  • Short Term outlook is negative
  • 0 0 votes
    文章评分
    Subscribe
    Notify of
    guest
    0 评论
    Inline Feedbacks
    View all comments