fbpx

AUDUSD and NZDUSD Shift to Intermediate-Term Range Outlooks

AUDUSD Chart

  • Gains by both the Australian and New Zealand Dollars in early June have neutralised intermediate-term bearish threats.
  • Although this has not indicated a more bullish theme, but simply a shift to broader range environments, in the very near term, the threat for both AUDUSD and NZDUSD is to the upside

Read more current technical analyses

AUDUSD – Intermediate-term shift to neutral, upside risks

Despite another setback Friday, whilst above .7495 we still see a bullish tone from the early June push up through key resistance at .7556, aiming higher still for Monday.

Furthermore, the threat is growing for an intermediate-term bullish shift, but requiring a push through .7611.

For Today:

l We see an upside bias for .7591; break here aims for a critical level at .7611, maybe then closer to .7655 and .7680/85.

l But below .7495 opens risk down to .7453.

Intermediate-term Range Parameters: We see the range defined by .7611 and .7331.

Range Breakout Challenge

l Upside: Above .7611 aims higher for .7750 and the .7835/49/78 area.

l Downside: Below .7331 sees risk lower for .7283/79, .7155/41/06 area, maybe .7000 and .6971.

4 Hour AUDUSD Chart

AUDUSD Chart

NZDUSD – Upside risks

A high-level, resilient consolidation Friday after another push higher Thursday rebounding from support at .7164, reinforcing the aggressive earmy June rally through numerous resistances (.7146, .7169 and .7200), leaving risk higher again for Monday.

Although we see an intermediate-term range environment, intensifying risk is for a bullish shift above .7247.

For Today:

l We see an upside bias for .7237; through here aims up to the key .7247 level and maybe then towards .7275.

l But below .7164 opens risk down to .7121, maybe down to .7105.

Intermediate-term Range Parameters: We see the range defined by .6814 and .7247.

Range Breakout Challenge

l Upside: Above .7247 aims higher for .7376, .7403 and maybe as high as .7485.

l Downside: Below .6814 sees risk lower for .6676/64 and .6572/41, maybe as deep as .6343.

4 Hour Chart

NZDUSD Chart

Risk Statement: Trading Foreign Exchange on margin carries a high level of risk and may not be suitable for all investors. The possibility exists that you could lose more than your initial deposit. The high degree of leverage can work against you as well as for you.


Popular Brokers