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AUDUSD and NZDUSD Immediate Risks Lower, but Intermediate-Term Bias Higher

aud/usd

 

AUDUSD Risks stay lower

A negative tone again Friday with a reversal of the September up trend line and probe below the .7207 support (to .7199), then a lacklustre rebound effort which leaves downside forces from last Wednesday’s failure post-Fed (from our resistance at .7315), to keep risks lower Monday.

We see an intermediate-term bear trend, BUT risk remains for an intermediate-term shift straight to bullish above .7382.

For Today:

  • We see a downside bias for .7199; break here quickly aims for .7187 and maybe targets .7139.
  • But above .7268 opens risk up to .7315.

Intermediate-term Outlook – Downside Risks: Whilst below .7382 we see a downside risk for .7000.

  • Lower targets would be .6825 and maybe towards .6500
  • What Changes This? Above .7382 shifts the intermediate-term view straight to bullish.

Resistance and Support:

.7268 .7315** .7362** .7382*** .7412
.7199 .7187 .7139** .7083* .7038

4 Hour AUD/USD Chart

 aud/usd

NZDUSD Small Double Top reinforced

Another setback Friday to reinforce the small Double Top pattern last week through.6628 (after the spike higher after the Fed on Wednesday failed at our .6699 resistance at .6696), to keep risks lower Monday.

We see an intermediate-term bear trend, BUT risk remains for an intermediate-term shift straight to bullish above .6721.

For Today:

  • We see a downside bias for .6596/93 and .6559, maybe .6535.
  • But above .6645 opens risk up to firm resistance at .6696/99.

Intermediate-term Outlook – Downside Risks: Whilst below .6721 we see a downside risk for .6347.

  • Lower targets would be .6195 and .6000.
  • What Changes This? Above .67121 switches the intermediate-term straight to bullish.

Resistance and Support:

.6645 .6696/99** .6721*** .6759/66* .6798
.6596/93* .6559* .6535** .6497* .6461

4 Hour NZD/USD Chart

nzd/usd

 

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