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AUDUSD Bull Trend Neutralised; NZDUSD Bull Pressures Eased

audusd

 

AUDUSD Intermediate-term bearish shift threat to key .7161

A Friday rebound failure from just above our .7240 initial resistance (from .7242), to sustain negative forces from the Tuesday-Thursday plunge through key .7197 support (and trend lines from October and November, to keep the bias lower Monday.

The early December plunge to probe below .7197 switched the intermediate-term view to a range theme (defined as .7394 to .7161), BUT with risks skewed towards an intermediate-term bearish shift.

For Today:

  • We see a downside bias for .7191/85 and key .7161; break here quickly aims for .7149, maybe .7119.
  • But above .7242 opens risk up to .7276 and .7301.

Intermediate-term Range Breakout Parameters: Range seen as .7394 to .7161.

  • Upside Risks: Above .7394 sets a bull trend to aim for .7484, .7668, .7813 and maybe .8000.
  • Downside Risks: Below .7161 sees a bear trend to target .7077, .7018/00 and .6827.

Resistance and Support:

.7242* .7276* .7301* .7356 .7394***
7191/85* 7161*** 7149 .7119 7077**

4 Hour AUDUSD Chart

audusd

NZDUSD Immediate bias still towards a correction lower

A negative consolidation Friday to probe the up trend line from late October, after Thursday’s push down through the .6886/85 support area and the early December setback from a new cycle high, to leaves the bias for a correction lower Monday.

The early November aggressive surge above .6618 set an intermediate-term bull trend.

For Today:

  • We see a downside bias for .6843; break here quickly aims for .6834, possibly towards .6790.
  • But above .6930 opens risk up to .6969 and .6995/7000.

Intermediate-term Outlook – Upside Risks: We see an upside risk for be .7060.

  • Higher targets would be .7437 and .7558.
  • What Changes This? Below .6751 shifts the outlook from bullish to neutral and only through .6705/04 to a bear theme.

Resistance and Support:

.6899 .6930 .6969* .6995/7000** .7044*
.6843 .6834 .6790 .6751*** .6704***

4 Hour NZDUSD Chart

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