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AUDUSD and NZDUSD Intermediate-Term Bullish Outlooks

nzdusd chart

  • In our last report on AUDUSD and NZDUSD FX rates, ┬áreport here we highlighted intermediate-term shifts from bearish to neutral, with the risk for a more bullish switch into June.
  • The AUDUSD mid-June move through .7611 and the NZDUSD currency push above .7247 have indicated a more bullish outlook into late June and beyond.
  • However, in the very near term, we see downside correction signals.

AUDUSD – Downside correction threat

As we had been anticipating a steel negative correction theme Wednesday, down through support at .7565, reinforcing a small topping structure, leaving the threat for further corrective losses into Thursday.

However, the mid-June surge through the .7611 level shifted the intermediate term outlook to bullish.

For Today:

l We see a downside bias for .7548; break here aims for .7516, potentially close to .7495

l But above .7589 opens risk up to the .7624/7636 peaks.

Intermediate-term Outlook – Upside Risks:

l We see a positive tone with the bullish threat to .7750.

l Above here targets the .7835/49/78 area.

What Changes This? Below .7368 signals a neutral tone, only shifting negative below 8.7331.

4 Hour Chart

audusd chart

NZDUSD – Downside correction risk

Another negative consolidation Wednesday, maintaining negative pressures from the Monday failure, similar to the setback seen last Thursday, and keeping the risk back to the downside into this Thursday.

Moreover, the mid-June push through .7247 sets a bullish outlook into at least the balance of June.

For Today:

l We see a downside bias for .7208; break here aims for .7181 and the .7169/64 area.

l But above .7299 opens risk up .7320 and .7334.

Intermediate-term Outlook – Upside Risks:

l We see a positive tone with the bullish threat to .7376.

l Above here targets .7403 and .7485.

What Changes This? Below .7003 signals a neutral tone, only shifting negative below .6814.

4 Hour Chart

nzdusd chart

Read more technical analyses here.

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