AUDUSD and NZDUSD Still Aiming Higher

Technical Analysis

The Australian and New Zealand Dollars have maintained their bullish tone through mid-April. Having overcome further notable resistance levels versus the US Dollar, the bias is higher for AUDUSD and NZDUSD again through month-end.

AUDUSD

A resilient, high level consolidation Wednesday after a strong upside follow-through to another new recovery high Tuesday, to build on the aggressive bullish outside Monday pattern to again leave a bull tone for Thursday.

For this week:

  • We see an upside bias for .7828 and .7849; break here aims for .7878, maybe .7932.
  • But below .7762/59 opens risk down to .7705/00.

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 .7411 signals a neutral tone, only shifting negative below .7106.

Daily AUDUSD Chart

AUDUSD

NZDUSD

A corrective dip lower Wednesday, but holding initial support at .6955/50, a correction in reaction to the Tuesday extension through 6965/66/70 and 7000/09/12 resistances and the strong rebound from trend line support on Monday (off .6842) to leave the bias higher Thursday.

For this week:

  • We see an upside bias through .7054 for .7100; break here aims for .7153.
  • But below .6955/50 aims for .6905/00.

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 .6664 signals a neutral tone, only shifting negative below .6541.

Daily NZDUSD Chart

NZDUSD

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