AUD/USD, NZD/USD, AUD/JPY Forecast

AUD/USD closed on strong support at 7420/10. Longs need stops below 7395. A break lower is a sell signal.

NZD/USD held inside Wednesday’s range on Thursday and we held within Thursday’s range on Friday. Therefore same levels apply for Sunday.

AUD/JPY shorts at first resistance at 8190/8210 worked perfectly on the slide towards best support at 8120/00. The pair remains in a bear trend so outlook is negative for the start of this week.

Analysis

AUD/USD is likely to break support at 7420/10 for a sell signal initially targeting 7350/40 perhaps as far as 7310/00. Further losses look likely eventually to the 200 week moving average at 7240/30. Gains are likely to be limited in the bear trend. Strong resistance at 7450/60. Shorts need stops above 7480. Holding minor resistance at 7490/99 keeps us in the sideways range for today retargeting 7465/50.

NZD/USD first resistance at 7045/55, then 200 day moving average resistance at 7075/85. A break higher however targets 7100/05 then resistance at 7120/30. Very minor support at 7010/7000 but below here can target 6930/20. A break below 6910 is a sell signal targeting 6890 and 6855/45.

AUD/JPY holding first resistance at 8190/8210 to test best support at 8120/00. Longs need stops below 8085. A break lower is a sell signal targeting 8045/35 then 8010/00. First resistance again at 8190/8210. Further gains test strong resistance at 8235/45. A break above 8260 targets 8300/10.

AUD Chart

Disclaimer: No representation or warranty is made as to the accuracy or completeness of this information and opinions expressed may be subject to change without notice. Estimates and projections set forth herein are based on assumptions that may not be correct or otherwise realized. All reports and information are designed for information purposes only and neither the information contained herein nor any opinion expressed is deemed to constitute an offer or invitation to make an offer, to buy or sell any security or any option, futures or other related derivatives.

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