The Australian and New Zealand Dollars have seen resumptions of bullish trend versus the US Dollar this week.
AUDUSD and NZDUSD upside pressures this week maintain the underlying bull themes that have dominated for most of Q1, and look set to extend into early Q2 (early April).
Higher again Wednesday through the .7680 previous March peak, to still build on the bullish outside Monday pattern rebound from ahead of firm supports at .7411/06 to maintain the bull bias for Thursday.
- We see an upside bias for .7700; break here aims for .7738, maybe .7800.
- But below .7613 aims for .7553 and .7506, which we would look to try to hold.
Short/ Intermediate-term Outlook – Upside Risks: The break above .7243 set a bull theme.
- We see a positive tone with the bullish threat to .7738.
- Above here targets.7849 and .8000.
What Changes This? Below .7106 signals a neutral tone, only shifting negative below .6971.
Daily AUDUSD Chart
A strong rally Wednesday and an intermediate-term bullish shift above the .6879 level.
Furthermore, the push above .6897 and .6924/30 leaves a bull tone for Thursday.
- We see an upside bias for .6965/70; break here aims for .7000, maybe .7012.
- But below .6880 opens risk down to .6837, maybe .6790.
Short/ Intermediate-term Outlook – Upside Risks:
- We see a positive tone with the bullish threat to .7000/12.
- Above here targets .7232 and .7396/7413.
What Changes This? Below .6572 signals a neutral tone, only shifting negative below .6541.
Daily NZDUSD Chart