AUDUSD joins NZDUSD with intermediate-term bullsh shifts

audusd chart

 

AUDUSD Intermediate-term bullish shift through key .7315

We have stressed in recent reports that “the early November surge through .7159 set an intermediate-term range defined as .7018 to .7315, BUT with skewed threat for an intermediate-term bullish shift above .7315” and the strong Friday advance through here sets an intermediate-term bull trend.

Furthermore, the bullish push above .7315 reinforces the previous strong rebound off of .7161 support, plus positive forces from the early November surge, to keep an upside bias into Monday.

For Today:

  • We see an upside bias for .7338; break here aims for .7362 and .7382.
  • But below .7297 aims for .7247 and maybe targets .7224.

Intermediate-term Outlook – Upside Risks: We see an upside risk for .7484.

  • Higher targets would be .7668, .7813 and maybe .8000
  • What Changes This? Below .7161 shifts the outlook back to neutral; through 70.18 is needed for a bear theme.

Resistance and Support:

.7338 .7362* .7382* .7412 .7453**
.7297 .7247** .7224 .7185 .7161*

4 Hour AUDUSD Chart

audusd chart

 

NZDUSD Bull trend extends

Another firm rally Friday through .6835 and the July .6851/58 resistance peaks, still building on last week’s rebound from just above our .6704 support (from .6705), extending both short- and intermediate-term bull trends, to aim higher Monday.

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

For Today:

  • We see an upside bias to and through .6884; a break here targets .6900 and .6921, even towards .6956.
  • But below .6839 targets .6796, maybe towards .6748.

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

  • Higher targets would be .7437 and .7558.
  • What Changes This? Below .6629 shifts the outlook from bullish to neutral and only through .6461 to a bear theme.

Resistance and Support:

.6884 .6900 .6921** .6956* .6995
.6839 .6796** .6748 .6705/04* .6662*

4 Hour NZDUSD Chart

nzdusd chart

 

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