fbpx

NZDUSD and AUDUSD Bullish Threats

Technical Analysis

Both the New Zealand Dollar and the Australian Dollar has reinforced their bullish themes over the past week, with NZDUSD moving to a new cycle high, whilst AUDUSD has probed above the .7648 level, to switch from a broader range theme, to a more bullish outlook into July.

This price action has generally reflected a growing “Risk On” outlook across asset classes in July, reinforce last Friday (8thJuly), by the extremely strong US Employment report for June (with the Non-Farm Payroll data at 287K!).

NZDUSD

A  firm consolidation Wednesday with a solid dip and rebound to reinforce the Tuesday rebound from a prod just below .7213 support (off of .7212) and the bull tone from Friday (to a new cycle high), to keep a bull bias Thursday .

For Thursday/ Friday:

  • We see an upside bias for .7316; break here aims for .7355, then next key level at .7396.
  • But below .7234 opens risk down to .7213/12, maybe .7165.

Short/ Intermediate-term Outlook – Upside Risks: A previous shift to an intermediate-term bullish tone above .7054.

  • We see a positive tone with the bullish threat to 7298.
  • Above here targets .7396/7413 and .7564.

What Changes This? Below .6960 signals a neutral tone, only shifting negative below .6676.7396/7413

Daily NZDUSD Chart

nzdusd

AUDUSD

An intermediate-term bullish shift was signalled Wednesday with the prod above .7648.

Despite the setback from just above .7648 (from .7658), the .7573 level held exactly, and the rebound leaves a bull tone for Thursday.

For Thursday/ Friday:

  • We see an upside bias for .7658; break here aims for .7700 and next key level at .7719.
  • But below .7573 opens risk down to .7518/10.

Short/ Intermediate-term Outlook – Upside Risks:

  • We see a positive tone with the bullish threat to .7719.
  • Above here targets .7835/49/78 and .8000.

What Changes This? Below .7403 signals a neutral tone, only shifting negative below .7284.

Daily AUDUSD Chart

audusd

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