NZDUSD and AUDUSD Intermediate-Term and Short-Term Range Themes

nzdusd chart

AUDUSD and NZDUSD remain within broader range environments on an intermediate-term basis, but erratic activity into the end of March also leaves a very short-term, non-trend consolidation theme.

For NZDUSD, we continue to see a slightly positive bias within the broader non-trend environment that is dominated so far in 2017.

AUDUSD also retains a positive outlook within the intermediate-term range, but with a heightened risk of a bullish shift, but only triggered above .7778.

NZDUSD

A dip below our .6988 initial support Friday, but another rebound from ahead of .6964 (from .6876) signals a positive bias from the Wednesday bullish Hammer-type candlestick pattern, keeping upside risks Monday.

Moreover, we see reduced risk of an intermediate-term bearish shift below .6867.

For Today:

  • We see an upside bias for .7045, then the .7090/7100 area; break here aims for .7131.
  • But below .6976 opens risk down to .6964, maybe down towards .6915.

Intermediate-term Range Parameters: We see the range defined by .7403 and .6867.

Range Breakout Challenge

  • Upside: Above .7403 aims higher for .7485, .7564 and .7744.
  • Downside: Below .6867 sees risk lower for .6800, .6676/64, .6572/41 and maybe as deep as .6343.

Daily NZDUSD Chart

nzdusd chart

AUDUSD

A dip just below minor support at.7626 Friday, but a bounce from .7622 reinforces the Tuesday bullish outside daily pattern, leaving a positive tone into Monday.

Furthermore, the bigger threat remains for a push above .7778, which would see an intermediate-term bullish shift.

For Today:

  • We see an upside bias for .7685; break here aims for .7719, maybe .7750.
  • But below .7622 opens risk down to .7583.

Intermediate-term Range Parameters: We see the range defined by .7487 and .7778.

Range Breakout Challenge

  • Upside: Above .7778 aims higher for .7835/49/78 and .80000.
  • Downside: Below .7487 sees risk lower for .7155/41/06, .6971 and maybe .6825.

Daily AUDUSD Chart

audusd 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.