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AUDUSD and NZDUSD Show Bullish Tone

Technical Analysis

Both the Australian and New Zealand Dollars remain with broader ranges versus the US Dollar into early December, but have both started to show a far more positive tone since late November.

This leaves risks to the upside for the beginning of this month and for AUDUSD sees particular risk for a bullish shift (above .7382/83).

AUDUSD

A high level consolidation Wednesday after a Monday rebound from ahead of .7157/50 support to surge through the .7297/7307 area Tuesday, to leave a bull theme into Thursday.

Although, we still see a broader range theme into December, the bias is moving for a bullish shift.

For This Week:

  • We see an upside bias through .7343 for .7363; break here aims for .7382.
  • But below .7272 opens risk down to .7219.

Short/ Intermediate-term Range Parameters: We see the broader range defined by .6936 and .7382/83.

Range Breakout Challenge

  • Upside: Above .7382/83 aims higher for .7440/99 and .7681.
  • Downside: Below .6936 sees risk lower for 6894, .6857 and .6645.

Daily AUDUSD Chart

AUDUSD

NZDUSD

Despite a dip on Wednesday, the bounce Monday from ahead of .6493, and a bull move Tuesday through .6625/42 resistances still leaves an upside bias for Thursday.

Early November losses through .6615 completed a top, for a broader range theme into December.

For This Week:

  • We see an upside bias for .6688 and .6707; break aims for .6779/92,  maybe .6813.
  • But below .6609 opens risk down to .6572.

Short/ Intermediate-term Range Parameters: We see the range defined by .6897 and .6232.

Range Breakout Challenge

  • Upside: Above .6897 aims higher for .6924/30 and .7000/09/12.
  • Downside: Below .6232 sees risk lower for .6154 and .6000.

Daily NZDUSD Chart

NZDUSD

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